[ET Net News Agency, 3 June 2021] Red Star Macalline Group Corporation Ltd. (01528)
said the company, Shanghai Red Star Logistics, Tianjin Yuanchuan and RSM Holding have
entered into a cooperation framework agreement. The company and Shanghai Red Star
Logistics have agreed to sell the target equity interests and the target creditor's
rights. RSM Holding has agreed to provide the joint guarantee in favour of the purchaser
for the due performance by the vendors of their obligations and liabilities under the
agreement.
The target equity interests are 100% equity interests in Tibet Red Star, Shanghai Red
Star, Shanghai Beimao, Shanghai Beiyue, Shanghai Beibo, Shanghai Beizheng and Tianjin Red
Star (the target companies). The target projects are a series of property development
projects operated by the target companies and their subsidiaries. (RC)