[ET Net News Agency, 26 July 2019] New World Development Company Limited (00017) said
its subsidiary Esteemed Sino Limited has agreed to purchase 51% interest in Silvery Yield
Development Limited (the target) and accept the assignment of sale loans at the total
consideration of RMB4.01 billion. Completion took place immediately after the signing of
the agreement. Upon completion, the target became an indirect wholly-owned subsidiary of
the company.
The target is principally engaged in the business of property development in Ningbo
City, Zhejiang Province, the PRC. (RC)