Chuan Holdings (01420) said it agreed to acquire the entire issued share capital of Cosmic Achiever Holdings Limited at Rmb380 million.
The target group holds two parcels of land situated at the south side of Jinshan Road, Jiangcheng District, Yangjiang City, Guangdong Province, the PRC with a total site area of about 17,680.8 square metres. The land is being used for the construction and development of a property. The property will have 7 storeys in total, in which 2 floors will be built under ground. The property will be solely used for commercial purpose. The property is expected to have a gross floor area is around 43,888.25 square metres.