Asia Tele -Net takes over 97% timber business at HK$80mln

Asia Tele -Net & Technology (0679) announced to have taken over 51% equity interest of Function Hope at HK$80mln. But the only asset of Function Hope is 97% equity interest in Unido, an Indonesian timber trading company. The acquisition will be paid with a 10-year loan note at an annual interest rate of 4.5%.

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