Agile Group (03383) said it agreed to acquire the entire equity interest in Crystal I Limited at US$900 million.
Such sale, if completed, will result in the indirect transfer of 30% equity interest in Crown Golden Investments Limited (an indirect non-wholly owned subsidiary of Agile Group) to the third party purchaser(s).
Crown Golden and its subsidiaries are principally engaged in the development of tourism property project of the Group in Hainan, the PRC, which is a high-end resort and residential development projects. Agile Group currently holds an indirect 70% stake in Crown Golden.
Agile Group considers the acquisition will enable the Group to generate income and provide capital appreciation potential to the Group.
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