CIFI Holdings (00884) said it entered into a strategic cooperation agreement with Chongqing Huayu Group Co. Ltd. in respect of the joint development of certain real estate projects located in Chongqing, Hefei, Chengdu, Ningbo, Shenyang, Changsha and Wuxi of the PRC.
Chongqing Huayu will carry out equity cooperation with CIFI by way of transferring to CIFI certain equity interest in each of its real estate projects in Chongqing, Hefei and Chengdu, resulting in CIFI holding a non-controlling stake in the aforesaid projects of Chongqing Huayu; and CIFI will carry out equity cooperation with Chongqing Huayu by way of transferring to Chongqing Huayu certain equity interest in each of its real estate projects in Ningbo, Shenyang, Changsha and Wuxi, resulting in Chongqing Huayu holding a non-controlling stake in the aforesaid projects of CIFI.
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