Brief: Far East Consortium Intl Says Guangdong Trust Real Estate, Co's Unit, JV Co & Wanxi Enter Settlement Agreement

Far East Consortium International

27/07/2021 13:17

July 27 (Reuters) - Far East Consortium International Ltd
 0035.HK :
    * FAR EAST CONSORTIUM INTERNATIONAL-GUANGDONG TRUST REAL
ESTATE,
CO'S UNIT, JV CO AND WANXI ENTERED INTO SETTLEMENT AGREEMENT
    * FAR EAST CONSORTIUM INTERNATIONAL  - GUANGZHOU DONG QIAO
REAL
ESTATE DEVELOPMENT CO WILL BE WOUND UP UNDER AGREEMENT
    * FAR EAST CONSORTIUM INTERNATIONAL LTD SAYS  LEGAL
PROCEEDINGS
WILL BE WITHDRAWN
    * FAR EAST CONSORTIUM INTERNATIONAL - CONSIDERATION FOR
SETTLEMENT
IS RMB408 MILLION
    * FAR EAST CONSORTIUM INTL-WITHIN 3 MONTHS OF CO'S UNIT
RECEIVING
FULL PAYMENT OF CONSIDERATION, IT SHALL COMPLETE WINDING UP
PROCESS OF JV CO
    * FAR EAST CONSORTIUM INTERNATIONAL LTD SEES  GAIN FROM
SETTLEMENT
OF ABOUT RMB302 MILLION

Source text for Eikon:  ID:nHKS9mgskL 
Further company coverage:  0035.HK 

 (Reuters.briefs@thomsonreuters.com)