Towngas China Co (HK:1083) has released an update.
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Towngas China Co is undergoing significant connected transactions involving the transfer and disposal of equity interests and assets in its extended business in the PRC, and the acquisition of equity interest in a holding company. The independent valuer, Jones Lang LaSalle, used the market approach, specifically the EV/EBITDA ratio, to determine the valuation of the targets, which are expected to impact the financial landscape of the company’s operations in China and Hong Kong.
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