CNNC International Limited (HK:2302) has released an update.
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CNNC International Limited has entered into an agreement to sell its wholly-owned subsidiary to CNNCTM, marking a significant transaction due to its financial magnitude. The deal involves an initial consideration of HK$167,352,569.30, subject to adjustments, and is classified as both a major and connected transaction, necessitating shareholder approval. An Extraordinary General Meeting (EGM) will be convened to seek approval for this disposal, with some stakeholders required to abstain from voting due to their interests.
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