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RTNominal up19.800 +0.420 (+2.167%)

06/12/2019 17:42

China Taiping (00966) to buy 49% of property management unit

[ET Net News Agency, 6 December 2019] China Taiping Insurance Holdings Company Limited
(00966) said it has agreed to acquire 49% of the entire issued share capital of Tellon
Development Limited (the target company) at a consideration of HKD2.13 billion.
Immediately prior to completion, the company owned 51% of the entire issued share capital
of the target company. Completion took place immediately after the execution of the share
purchase agreement, upon which the target company has become a wholly-owned subsidiary of
the company.
The target company has one wholly-owned subsidiary, namely Taiping Real Estate Shenzhen
Company Limited, which is a limited liability company established in the PRC. Its
principal business is property management. (RC)

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