Brief: Shunfeng International Clean Energy updates on disposal agreement

Shunfeng International Clean Energy

20/09/2016 15:32

Sept 20 (Reuters) - Shunfeng International Clean Energy Ltd: 
    * Deal for  consideration of rmb409.5 million 
    * Estimated that there is an estimated gain after tax of 
approximately hk$9.6 million arising from proposed disposal 
    * Seller agreed to sell and purchaser agreed to purchase 
100% equity interest in target company 
    * Seller, a wholly-owned subsidiary of company, and 
purchaser entered into sale and purchase agreement 
    * Target company will no longer be a subsidiary of company 
upon completion 
    * Intends to use proceeds received from proposed disposal 
for construction and development of other photovoltaic projects 
 
Source text for Eikon:  ID:nHKS83pwRV  
Further company coverage:  1165.HK  
 
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