Wai Kee to sell entire interest in unit to NWS for 43 mln hkd

HONG KONG (AFX-ASIA) - Wai Kee Holdings Ltd said the company has agreed to sell the entire issued share capital of wholly owned unit Ngo Kee Construction Co Ltd to NWS CON Ltd for 43 mln hkd.

	    In a statement, Wai Kee said NWS CON is a wholly owned unit of New World Services Ltd, which is a member of New World Development group and owns a 16.54 pct stake in Wai Kee.

	    Wai Kee said the company believes the strategic alliance with NWS group will strengthen the management of Wai Kee's existing projects.

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