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10 months ago
BRIEF-Powerlong Real Estate Holdings says Shanghai Zunchang entered into first equity transfer agreement
November 7, 2016 / 3:08 PM / 10 months ago

BRIEF-Powerlong Real Estate Holdings says Shanghai Zunchang entered into first equity transfer agreement

Nov 7 (Reuters) - Powerlong Real Estate Holdings Ltd :

* Shanghai zunchang entered into first equity transfer agreement with lasa dehui

* Shanghai Zunchang agreed to acquire and Lasa Dehui agreed to dispose of 35% equity and debt interests in each of target companies

* Disposal at an aggregate consideration of rmb1.04 bln

* Shanghai Zunchang submitted bid in response to tender notice published by JCPREC on behalf of Changying

* Pursuant to deal Shanghai Zunchang proposes to acquire 16% equity and debt interests in each of target companies

* Consideration of first acquisition will be financed by group's internal resources. Source text for Eikon: Further company coverage:

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