February 9, 2018 / 12:54 PM / 3 months ago

BRIEF-ZTE Corp To Transfer Stake In Unit To Nanjing Xiruan

Feb 9 (Reuters) - Zte Corp:

* CO, NANJING XIRUAN CORPORATE MANAGEMENT LIMITED PARTNERSHIP AND ZTESOFT ENTERED INTO AGREEMENT

* ‍CO TO TRANSFER 43.66% SHARES IN ZTESOFT, TO NANJING XIRUAN FOR RMB1,223.3 MILLION, NANJING XIRUAN TO INJECT RMB100 MILLION INTO ZTESOFT AS CAPITAL​

* ‍NANJING XIRUAN TO INJECT RMB100 MILLION INTO ZTESOFT BASED ON PRICE OF RMB4.67 PER SHARE​

* INVESTMENT GAINS GENERATED FROM CO’S DISPOSAL OF 43.66% SHARES IN ZTESOFT SHALL AMOUNT TO RMB450 MILLION (BEFORE TAXATION)

* TOTAL VALUE OF STAKE IN ZTESOFT TO BE RMB2.80 BILLION, TRANSFER PRICE FOR SHARE TRANSFER UNDER DEALTO BE RMB4.67 PER SHARE

* AGGREGATE INVESTMENT GAINS OF ABOUT RMB650 MILLION TO RMB790 MILLION FROM DISPOSAL OF STAKE IN ZTESOFT Source text for Eikon: Further company coverage:

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