Brief: Hon Kwok Land Investment's unit enters sale agreement worth RMB3.18 bln

Hon Kwok Land Investment

24/01/2017 14:59

Jan 24 (Reuters) - Hon Kwok Land Investment Co Ltd  0160.HK  
    * Unit Cheerworld as vendor, Hon Kwok as guarantor of vendor 
and Sunshine City as purchaser entered into agreement 
    * Consideration provided for in agreement, about RMB3.18 
billion 
    * Vendor has conditionally agreed to sell sale share and 
procure assignment of sale loans to purchaser 
    * Sale share refers to share representing entire issued 
share capital of BVI target 
    * Hon Kwok Group is expected to record an estimated net gain 
from disposal of approximately HK$2.2 billion 
    * Chinney Investments Group is expected to record an 
estimated net gain from disposal of approximately HK$1.5 billion 
    * Application has been made to stock exchange for resumption 
of trading in shares of  Chinney Investments And Hon Kwok on 
stock exchange on 25 Jan 
 
Source text for Eikon:  ID:nHKSbkCNGD  
Further company coverage:  0160.HK  
 
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