[ET Net News Agency, 19 December 2019] Zhuguang Holdings Group Company Limited (01176)
said its subsidiary South Trend has conditionally agreed to acquire 100% of the issued
share capital of All Flourish Investments Limited (the target). The consideration is
RMB1.05 billion.
The target holds 100% of the equity interests of the HK subsidiary. The Guangzhou
Project Company is a company established in the PRC and is owned as to 51% by the HK
Subsidiary and as to 49% by Dongguan Trust. Its principal business activities are property
development (except for theme parks and villas), property management and provision of
commercial consultancy services. The Guangzhou Land is the principal asset of the
Guangzhou Project Company, and can be used for commercial, tourism and entertainment uses
for a term of 40 years expiring on 20 February 2058 and for composite and other uses for a
term of 50 years expiring on 20 February 2068. The Guangzhou Land is planned to be
developed into a commercial complex which comprises, without limitation, shopping malls,
office premises and high-end apartment buildings. (RC)