[ET Net News Agency, 14 October 2019] Golden Wheel Tiandi Holdings Company Limited
(01232) said its subsidiary Golden Wheel Jasper Company Limited has conditionally agreed
to sell the entire issued share capital of Double Advance Group Limited (the target
company) and the shareholder's loan. The initial consideration for the disposal is HK$515
million, subject to adjustments.
The target company holds the Silka West Kowloon Hotel. The directors consider that the
disposal provides a good opportunity for the group to realise its investment in the
property and the hotel which are located in Hong Kong and enhance the liquidity of the
group for further development of its hotel business in the People's Republic of China.
(RC)