Brief: Sino Land Announces Formation Of Joint Venture

Sino Land

14/09/2023 15:19

Sept 14 (Reuters) - Sino Land Co Ltd  0083.HK :
    * FORMATION OF JOINT VENTURE FOR ACQUISITION AND DEVELOPMENT
OF
LAND IN HONG KONG
    * TOTAL CAPITAL COMMITMENT OF JV PARTNERS EXPECTED TO BE
APPROXIMATELY HK$10.5 BILLION
    * JV ESTABLISHED AMONG SINO LAND, CHINA OVERSEAS, GREAT
EAGLE AND
CHINESE ESTATES IN SHAREHOLDING PROPORTION OF 50:20:20:10
RESPECTIVELY
    * SINO LAND EXPECTED TO CONTRIBUTE ABOUT HK$5.25 BILLION TO
TOTAL
CAPITAL OF JV
    * JV FOR PURPOSES OF SETTING UP DEVELOPER JV FOLLOWING
SUCCESSFUL
AWARD OF TENDER TO ACQUIRE AND DEVELOP LAND
    * TENDER AWARDED BY GOVERNMENT OF HKSAR TO DEVELOPER JV AT A
TENDER PRICE OF HK$5.35 BILLION


Further company coverage:  0083.HK 

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