December 29, 2016 / 1:24 PM / 8 months ago

BRIEF-Sre Group updates on disposal of equity interest in Shanghai Jinxin Real Estate Co

Dec 29 (Reuters) - Sre Group Ltd

* Purchaser agreed to acquire a total of 49% equity interest in target company at a total consideration of rmb2.31 billion

* Company and purchaser entered into cooperation framework agreement

* Group is expected to record an unaudited gain from disposal of approximately rmb1.10 billion

* Purchaser is Shanghai Zhongchong Binjiang Industrial Development; target company is Shanghai Jinxin Real Estate

* Proceeds to be received by company from disposal will be applied towards other real estate development projects of group Source text for Eikon: Further company coverage:

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