Shimao Services Holdings Limited (HK:0873) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Shimao Services Holdings Limited is acquiring the remaining 33% equity interest in its environmental sanitation services subsidiary in China, transitioning it to a wholly-owned subsidiary. The acquisition price of RMB83,159,000 reflects a substantial discount due to the subsidiary’s underperformance and unmet profit targets. This deal underscores Shimao’s strategic move to strengthen control and improve management after a challenging period for the subsidiary.
For further insights into HK:0873 stock, check out TipRanks’ Stock Analysis page.