Brief: Skyocean International Holdings Ltd announces formation of joint venture

DreamEast

08/07/2016 09:31

July 8 (Reuters) - SkyOcean International Holdings Ltd  0593.HK : 
 
 * Discloseable transaction - formation of joint venture  0593.HK  
 * Parties thereto conditionally agreed to set up a joint venture company 
 * Suhi entered into the operating agreement with the jv partner 
 * Suhi conditionally agreed to invest USD22.5 million in the joint venture and 
   shall own 90% interest in the joint venture 
 * The consideration payable by the assignor to the vendor for the acquisition 
   of the land is USD30.5 million 
 * Joint venture shall be owned as to 90% by Suhi and 10% by the jv partner, 
   respectively 
 * Says total cost for the project shall be about USD127 million 
 
* Source text for Eikon  urn:newsml:reuters.com:*:nHKSKRh6B 
 
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