Greentown China Holdings (HK:3900) has released an update.
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Greentown China Holdings has agreed to sell its subsidiary, the Target Company, to Ningbo Global for RMB482.3 million, marking a strategic move to streamline its operations. This transaction will see Greentown Real Estate, a wholly-owned subsidiary, transfer all related debts to Ningbo Global, effectively removing the Target Company from Greentown’s consolidated financial statements. This discloseable transaction reflects a shift in Greentown’s business focus and financial strategy.
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