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BRIEF-Sunac China announces acquisition of equity and debt interests in Huacheng Fuli
May 31, 2017 / 1:13 PM / 4 months ago

BRIEF-Sunac China announces acquisition of equity and debt interests in Huacheng Fuli

May 31 (Reuters) - Sunac China Holdings Ltd

* Announces acquisition of equity and debt interests in Huacheng Fuli

* Unit Chongqing Sunac, and Shangjin Property (as cooperator) entered into agreements

* Chongqing Sunac agreed to acquire 60% equity interest and relevant debts in target company for a total consideration of rmb2.1 billion

* Chongqing Sunac shall undertake joint guarantee liabilities for repayment obligations of target co in amount of rmb404.2 million

* Unit enters equity transfer agreement, cooperation agreement, financial advisory services agreement, cooperation development agreement

* Upon completion, equity interest in target co will be held as to 60% by Chongqing Sunac, 35% by Shangjin Property and 5% by Tiger assets

* No gain or loss is expected to accrue to co as a result of disposal of 35% equity interest in target co by Chongqing Sunac Source text for Eikon: Further company coverage:

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