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Sino-Ocean and KKR jointly invest in Capital Juda.

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


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.


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Publication:M2 EquityBites (EQB)
Date:Nov 28, 2016
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