February 9, 2018 / 12:38 PM / 5 months ago

BRIEF-ZTE Corp ‍Entered Framework Agreement With Vanke Real Estate​

Feb 9 (Reuters) - Zte Corp:

* ‍ENTERED INTO FRAMEWORK AGREEMENT WITH VANKE REAL ESTATE​

* ‍VANKE REAL ESTATE TO PROVIDE SERVICES IN RELATION TO DEVELOPMENT, CONSTRUCTION OF PROPERTIES IN NANSHAN LAND, SALE OF PROPERTIES​

* ‍VANKE REAL ESTATE TO PAY RMB2.52 BILLION TO CO FOR OBTAINING RIGHT TO OPERATE PROPERTIES​

* VANKE REAL ESTATE SAYS TOTAL CAPEX FOR DEVELOPMENT, CONSTRUCTION OF NANSHAN LAND PROPERTIES TO BE NO LESS THAN RMB1.71 BILLION & NOT OVER RMB1.90 BILLION

* VANKE REAL ESTATE SAYS AGGREGATE SALE PRICE OF AVAILABLE-FOR-SALE PROPERTIES TO BE NO LESS THAN RMB4.75 BILLION

* EXPECTED THAT GROUP TO RECORD A PROFIT BEFORE TAXATION OF ABOUT RMB2.72 BILLION UPON COMPLETION OF DEAL Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

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