[ET Net News Agency, 27 December 2019] Greentown China Holdings Limited (03900) said
its subsidiary Greentown Town has agreed to acquire 40% of the total shares of Zhejiang
Yinrun Bluetown Real Estate Development Co., Ltd. (the target company) for an aggregate
amount of not exceeding RMB420.18 million payable by Greentown Town in accordance with the
agreement, including a consideration of not exceeding RMB390.18 million and a financial
assistance of not exceeding RMB30 million.
The purpose of the agreement is to set out the terms of cooperation among the JV
partners for the development of the Huzhou Anji Project. The Huzhou Anji Project is
situated in Anji District, Huzhou, Zhejiang, with a gross site area of approximately
645,493 sqm. It is intended to be developed into residential properties, schools and
commercial properties.
The target company is primarily engaged in real estate development, tourism project
development and management, property management and education project investment. (RC)
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03900 GREENTOWN CHINA
Nominal 
6.000 +0.660 (+12.360%) Others
27/12/2019 10:12
Greentown China (03900) to buy 40% of Huzhou project
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