Shimao Group: the wholly-owned subsidiary sold the shares of the joint venture at a total price of about 1.8 billion yuan
Shimao Group Stock Exchange announced that on January 24, the seller (an indirect wholly-owned subsidiary of the company) entered into a sale agreement with the buyer, and the seller agreed to sell the sale shares to the buyer, equivalent to 26.67% of the registered capital of the joint venture, with a total consideration of about RMB 1844.5 million (adjustable). The joint venture company is a company engaged in property development, and the group owns 26.67% of its registered capital. After the completion of the sale, the group will no longer have any interest in the joint venture.
This text is a result of machine translation.
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