Excellence Commercial Faces Legal Hurdles in Acquisition Deal

Excellence Commercial Property & Facilities Management Group Limited (HK:6989) has released an update.

Excellence Commercial Property & Facilities Management Group Limited has announced that the acquisition of a 75% stake in Beijing Global Wealth Property Management Co., Ltd. has encountered legal challenges. The People’s Court of Chaoyang District Beijing ruled in favor of Huibo Parking, ordering the defendants to fulfill their financial obligations, which has impacted the payment of the third installment in the acquisition deal. Despite these legal hurdles, the company assures that there will be no significant impact on its daily operations.

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