Greentown China Holdings (HK:3900) has released an update.
Greentown China Holdings Limited, through its subsidiary Nantong Bokai, is set to acquire an additional 40% stake in a joint venture, thereby transforming the Target Company into a wholly-owned subsidiary with a transaction valued at approximately RMB1,111 million. This strategic move follows the completion of the Nantong Sincere Garden Project, and the transaction is expected to be finalized without the need for shareholder approval. The acquisition indicates Greentown’s consolidation of its interests and expansion of its control over its subsidiary’s assets.
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