Printer Friendly

Sino-Ocean and KKR jointly invest in Capital Juda.

M2 EQUITYBITES-November 28, 2016-Sino-Ocean and KKR jointly invest in Capital Juda

(C)2016 M2 COMMUNICATIONS http://www.m2.com

Chinese property developer Sino-Ocean Group Holding Limited (HKEx: 3377) and KKR Monday announced a definitive agreement to invest in Beijing Capital Juda Limited (HKEx: 1329) for a total consideration of HKD1,477m via a combination of new ordinary shares and perpetual convertible bond securities.

Following closing, Sino-Ocean will own about 16% stake in Capital Juda and KKR will own an approximate 12% stake in Capital Juda, in each case on a fully diluted basis.

Capital Juda is a Hong Kong-listed subsidiary of Beijing Capital Land (BCL), a Chinese real estate developer listed in Hong Kong and controlled by Beijing Capital Group (Capital Group). The Company leverages on BCL's experience and network in real estate development in China as well as its own expertise in commercial development and operations to focus on integrated outlets projects across China.

Sino-Ocean views Capital Juda and KKR as high-caliber partners with established track records that will further develop and grow its property businesses in China.

(USD1=HKD7.75571)

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2016 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2016 Gale, Cengage Learning. All rights reserved.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Nov 28, 2016
Words:193
Previous Article:Nordic Waterproofing Holding notifies shareholders of Extraordinary General Meeting.
Next Article:St Jude Children's Research Hospital and Kmart to ring the closing bell of Nasdaq Stock Market on 28 November 2016.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters