COFCO Land (00207) said it agreed to purchase from controlling shareholders the "Joy City" project for HK$12,460 million.
The target group is primarily engaged in the development, operation, sale, leasing and management of mixed-use complexes under the flagship brand "Joy City", which has a portfolio of six mixed-use complex property projects located in Beijing, Shanghai, Tianjin, Yantai and Shenyang in the PRC. It also has a commercial property project in Beijing and holds non-controlling interests in two property projects in Beijing and Shanghai.
Subject to the market conditions, COFCO Land plans to conduct a series of external fund raising and financing arrangements, including the Placing(s), debt financings and/or other equity financings, for the settlement of the consideration.
15/09/2014 11:21
COFCO Land to buy parent's "Joy City" project for HK$12.46bn
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