Glory Sun Financial Adjusts Subsidiary Acquisition Terms

Glory Sun Financial Group Limited (HK:1282) has released an update.

Glory Sun Financial Group Limited has announced a revised acquisition deal, reducing their purchase from 49% to 42.33% in a PRC subsidiary, resulting in a lowered consideration from RMB1,129.45 million to approximately RMB975.69 million. This adjustment follows a delay in a development project by the subsidiary, with the revised terms set after arm’s length negotiations. The revised consideration will be partly settled by offsetting debts owed by the GSLG Group.

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