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BRIEF-Guocoland enters joint venture agreement with Hong Leong Holdings (China) Pte Ltd
May 23, 2017 / 12:32 PM / 2 months ago

BRIEF-Guocoland enters joint venture agreement with Hong Leong Holdings (China) Pte Ltd

1 Min Read

May 23 (Reuters) - Guocoland Ltd

* Company has today entered into a joint venture agreement with HLHC

* Parties agreed to fund development project by issuance of additional share capital, shareholders' loans or external loans

* Hong Leong Holdings (China) Pte. Ltd. (hlhc) will subscribe for 25% shareholding in gll chengdu pte. Ltd

* agreement is not expected to have any material effect on earnings per share of guocoland group for current fy ending 30 june 2017

* based on acquisition consideration of land parcels of rmb3.64 billion, co's initial investment of its 75% shareholding estimated to be rmb2.84 billion Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

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