China Overseas Grand Oceans Group Limited (HK:0081) has released an update.
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China Overseas Grand Oceans Group Limited has announced the acquisition of a 49% equity interest in two project companies, which will make them indirect wholly-owned subsidiaries upon completion. The transactions with Anhao Investment are considered connected transactions as per the Listing Rules, with the terms approved by the Directors as fair and reasonable. These strategic acquisitions aim to consolidate the company’s holdings and continue to integrate the financial results of the project companies into the Group’s financial statements.
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