China Water Industry Group Limited (HK:1129) has released an update.
China Water Industry Group Limited has announced a major and connected transaction involving the sale of a 51% equity interest in Yichun Water Industry Group Co., Limited for RMB 195 million. The sale to the purchasing company, which already owns 49%, will result in the disposal company becoming a wholly-owned subsidiary and will no longer be included in the China Water Industry Group’s consolidated financial statements. The transaction is subject to shareholder approval, with an Extraordinary General Meeting (EGM) to be convened for voting on the deal.
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