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BRIEF-Ascott Residence Trust says units enters into two conditional sale and purchase agreements
July 3, 2017 / 10:23 AM / 3 months ago

BRIEF-Ascott Residence Trust says units enters into two conditional sale and purchase agreements

July 3 (Reuters) - Ascott Residence Trust :

* Biyun Investments and Gaoxin Investments (Hong Kong) entered into two conditional sale and purchase agreements with third party

* ‍Agreement to divest interests in Citadines Biyun Shanghai and Citadines Gaoxin Xi‘an​

* Agreed aggregate value of properties is RMB980 million

* ‍sale price contributes an estimated net gain from sale of approximately rmb 239 million​

* Net sale proceeds may be used to pare down debts of ascott reit and its subsidiaries or fund potential acquisitions Source text for Eikon: Further company coverage:

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