China Land to acquire properties of Centergate for HK$188 mln

China Land Group (0149) announced to purchase the rest units of Centergate Construction Building, Beijing, from Beijing Centergate Development and Construction for $188 million. The consideration will be financed by HK$45 mln hard currency and issuing 220 mln new shares at HK$0.65 each. The involved shares represented about 13.9% of the existing issued shares. After the dealing, the shareholding held by the leading shareholder China Internet Global Alliance (0235) and its subsidiary will decrease from the current 62.54% to 53.85%.

Related stock : (149)