Brief: Kerry Logistics Network Signs Term Sheet With Kerry Holdings For Warehouses Sale Deal

Kerry Properties

10/02/2021 24:54

Feb 10 (Reuters) - Kerry Logistics Network:- 
    * FLOURISH HARMONY TO MAKE A VOLUNTARY CONDITIONAL PARTIAL
CASH
OFFER TO BUY 931.2 MILLION SHARES IN CO
    * OFFER PRICE TO BE HK$18.80 PER SHARE
    * OPTION OFFER WILL BE MADE TO CANCEL NUMBER OF SHARE
OPTIONS AT
HK$8.60/SHARE IN CASH
    * INTENDED CO WILL MAINTAIN ITS LISTING ON STOCK EXCHANGE
    * CO WILL DECLARE SPECIAL DIVIDEND OF HK$7.28 PER SHARE ON
PARTIAL
OFFER BEING DECLARED UNCONDITIONAL
    * CO, UNIT ENTER NON-BINDING TERM SHEET WITH KERRY HOLDINGS
AND
UNIT FOR WAREHOUSES SALE AGREEMENT
    * TOTAL CONSIDERATION OF HK$13.5 BILLION FOR WAREHOUSES SALE
AGREEMENT
    * TO SELL ENTIRE ISSUED SHARE CAPITAL OF TARGET WAREHOUSE
COMPANIES, UNDER DEAL
    * PROPOSES TAIWAN BUSINESS SALE WITH KERRY HOLDINGS AND ITS
UNIT
FOR NTD4.54 BILLION

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS6DdX5n
Further company coverage:  002352.SZ   0636.HK 

 (Reuters.Briefs@thomsonreuters.com)