[ET Net News Agency, 4 April 2018] GOME Retail (00493) said it agreed to acquire all of
the equity interests in Tianjin GOME Warehousing Company Limited from Pengrun Property
Co., Ltd. at Rmb89.61 million.
The target company is principally engaged in warehousing services. It owns a piece of
land with a site area of about 148,800 square metres located at Wuqing District in
Tianjin. The site has a term expiring on 21 August 2063. A warehouse of about 22,000
square metres has been built by the target company and further office, warehouses and
logistics centre with an aggregate area of about 63,000 square metres have been planned.
The acquisition will allow the GOME Retail Group to build a centralised logistics
facility in the Beijing-Tianjin area to meet the Group's operational requirements.
The vendor is an associate of Wong Kwong Yu, the controlling shareholder of GOME Retail.
(HL)