imGO to sell ppt to Guoco at $607M

imGO Limited (0067) announced that the company will exercise a put option to require Guoco Group Limited (0053), a substantial shareholder of the company, to acquire all interest of the company in three property-owning subsidiaries at a consideration of $607 million. The properties owned by the three subsidiaries are: 12th and 15th floors, The Center; 33rd to 35th floors, Wu Chung House; 17th to 19th floors, 22nd floor, 24th to 27th floors, penthouse and carparking space nos. 9-14 on 2nd floor of Overseas Trust Bank Building. Subject to agreement of shareholders of the company, the put option can be exercised at any time from May 30 to the day which falls six months thereafter.

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