Asia Tele-Net (00679) said its indirect wholly owned subsidiary has agreed to acquire a target company, together with all outstanding shareholder's loan standing, at RMB79.23 million.
The target company holds four parcels of land located in Shenzhen. It has a total gross site area of 24,197 square metres. The lnd has been approved for industrial use under the existing land grant contract, with a term of 50 years.
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