[ET Net News Agency, 25 January 2022] Shimao Group Holdings Limited (00813) said its
subsidiary Shanghai Mulei Business Management Co., Ltd. has agreed to sell 26.67% of the
registered capital of the JV company to the purchaser for an aggregate consideration of
approximately RMB1,844.5 million. Upon completion of the disposal, the group will no
longer have any interest in the JV company.
The JV company is Guangzhou Lihe Property Development Co., Ltd. The principal asset of
the JV company is the project, which is a mixed-use residential and commercial complex
known as Guangzhou Asian Games City. (RC)