Brief: Kerry Properties And Allgreen Will Enter JV Agreement

Kerry Properties

22/03/2019 11:24

March 22 (Reuters) - Kerry Properties Ltd  0683.HK :
    * COMPANY AND ALLGREEN WILL ENTER INTO A JV AGREEMENT
    * JV COMPANIES ARE OWNED BY COMPANY AND ALLGREEN AS TO 30%
AND 70%
RESPECTIVELY
    * JV COS RECEIVED LETTER FROM HOUSING AND DEVELOPMENT BOARD
THAT
TENDER IS SUCCESSFUL & LEASE OF LAND PARCEL IS AWARDED TO JV COS
    * CONSIDERATION FOR LEASE OF LAND PARCEL PAYABLE BY JV COS
TO
HOUSING AND DEVELOPMENT BOARD IS S$700 MILLION
    * MAXIMUM FUNDING COMMITMENT TO JV COMPANIES TO BE
CONTRIBUTED BY
CO EXPECTED TO BE S$230 MILLION
    * PARTIES TO PROVIDE SHAREHOLDERS' FUNDS OF NOT MORE THAN
S$766.4
MILLION TO JV COMPANIES

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS1Gwmzx
Further company coverage:  0683.HK 

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