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Deal snapshot: ASIAN GROWTH PROPERTIES SELLS CHINA PROPERTY FOR USD 116M.

MANews-(C)2009-2016

A subsidiary of Hong Kong property investor Asian Growth Properties Ltd. (LSE: AGP) has agreed to sell properties under development in Kaifeng, Henan Province, the PRC, for HKD 900m (USD 116.04m) in cash, the company said.

The properties comprise New Insight (an indirect wholly-owned subsidiary of the company) and its wholly-owned subsidiaries which are the registered and beneficial owners of the properties comprising ten land parcels located at Zheng Kai Da Road, Kaifeng, Henan Province, the PRC and the buildings erected on the land.

Country: China

Sector: Construction/Real Estate

Target: New Insight, ten land parcels located at Zheng Kai Da Road, Kaifeng, Henan Province, the PRC/buildings on land

Buyer:

Vendor: Asian Growth Properties

Deal size in USD: 116.04m

Type: Divestment

Financing: Cash

Status: Agreed

Buyer advisor: , ,

Comment:

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Publication:M & A Navigator
Geographic Code:9CHIN
Date:Apr 22, 2016
Words:134
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