Edition:
India

China Cinda Asset Management Finishes Listing For Sale Procedure On Shanghai United Assets


Friday, 13 Dec 2019 

Dec 13 (Reuters) - China Cinda Asset Management Co Ltd <1359.HK>::FINISHED LISTING FOR SALE PROCEDURE ON SHANGHAI UNITED ASSETS.ALSO FINISHED LISTING FOR EQUITY EXCHANGE FOR 50.995% OF EQUITY INTERESTS IN HAPPY LIFE HELD BY CO.ENTERED INTO EQUITY TRANSFER AGREEMENT WITH CHAMPION INSURANCE AND DONGGUAN COMMUNICATIONS INVESTMENT GROUP.RMB7.5 BILLION WAS BIDDING PRICE FOR DISPOSAL OF EQUITY INTERESTS IN HAPPY LIFE THROUGH PUBLIC TENDER.GROUP WOULD RECORD AN UNAUDITED PRE-TAX PROFIT OF ABOUT RMB4.42 BILLION UPON COMPLETION OF TRANSFER.EXPECTED NET PROCEEDS FROM TRANSFER ABOUT RMB7.5 BILLION.