Brief: GCL New Energy Holdings Announces Disposal Of 70% Equity Interest In Units

Dynasty Digital Holdings

22/05/2019 23:42

May 23 (Reuters) - GCL New Energy Holdings Ltd  0451.HK :
    * GCL NEW ENERGY HOLDINGS LTD ANNOUNCES DISPOSAL OF 70%
EQUITY
INTEREST IN SUBSIDIARIES
    * UNIT ENTERS SERIES OF 7 EQUITY TRANSFER AND JV AGREEMENTS
WITH
SHANGHAI RONGYAO NEW ENERGY AND NANJING GCL NEW ENERGY
DEVELOPMENT
    * DEAL FOR DISPOSAL RMB1.74 BILLION IN CASH (INCLUDES
CONSIDERATION FOR SHAREHOLDER'S LOAN)
    * NET CASH PROCEEDS FROM TRANSACTIONS EXPECTED TO BE ABOUT
RMB2.06
BILLION

Source text for Eikon:  ID:nHKS3CtW1C 
Further company coverage:  0451.HK 

 ((Reuters.Briefs@thomsonreuters.com;))