Edition:
India

Kerry Properties And Allgreen Will Enter JV Agreement


Friday, 22 Mar 2019 

March 22 (Reuters) - Kerry Properties Ltd <0683.HK>::COMPANY AND ALLGREEN WILL ENTER INTO A JV AGREEMENT.JV COMPANIES ARE OWNED BY COMPANY AND ALLGREEN AS TO 30% AND 70% RESPECTIVELY.JV COS RECEIVED LETTER FROM HOUSING AND DEVELOPMENT BOARD THAT TENDER IS SUCCESSFUL & LEASE OF LAND PARCEL IS AWARDED TO JV COS.CONSIDERATION FOR LEASE OF LAND PARCEL PAYABLE BY JV COS TO HOUSING AND DEVELOPMENT BOARD IS S$700 MILLION.MAXIMUM FUNDING COMMITMENT TO JV COMPANIES TO BE CONTRIBUTED BY CO EXPECTED TO BE S$230 MILLION.PARTIES TO PROVIDE SHAREHOLDERS' FUNDS OF NOT MORE THAN S$766.4 MILLION TO JV COMPANIES. 

Company Quote

30.1
-0.45 -1.47%
24 May 2019