PCCW (00008) and Pacific Century Premium Developments (PCPD) (00432) said PCPD agreed to acquire from CSI Properties (00497) the entire issued share capital of Fast Million and the entire shareholder's loan.
The consideration comprises the cash payment of an amount which is initially HK$2,018 million (subject to adjustments); and the allotment and issue of the non-voting participating share credited as fully paid to the vendor.
Fast Million owns certain properties, which are located at Nos. 3-6 Glenealy, Central, Hong Kong, prime piece of residential real estate within a stone's throw of Lan Kwai Fong and the Central CBD. The properties have a total site area of about 1,090.31 square metres (11,736 square feet) and plot ratio of not less than 8. The PCPD Group intends to redevelop the properties, jointly with CSI, into a high-end predominantly-residential building, or in the event that the user of the lot is successfully changed to commercial, a grade A commercial building.
全新節目《說說心理話》青少年不可以戀愛！？真實個案講述驚心動魄經歷► 即睇
