[ET Net News Agency, 28 November 2019] Sunac China Holdings Limited (01918) said its
subsidiary Sunac Southwest Group received the notification of transaction result from
YNEX, confirming that Sunac Southwest Group is the transferee of 51% equity interest each
in Global Century and Times Global, pursuant to which, Sunac Southwest Group will acquire
51% equity interest in each of the target companies held by YMCI at an aggregate
consideration of approximately RMB15.269 billion.
The target companies and their subsidiaries are principally engaged in the development
and operation of real estate projects, and have developed 18 target projects with a total
gross floor area of approximately 30.716 million sq.m. in Chengdu, Wuhan, Changsha,
Kunming and other cities, of which, the saleable gross floor area is approximately 27.716
million sq.m., accounting for approximately 90% of the total gross floor area. (RC)