(11 January 2012, Hong Kong) NWS Holdings Limited ("NWS
Holdings" or the "Group"; Hong Kong stock code: 659) today
announced that it has completed the four-stage acquisition of
95% effective interest in Hangzhou Ring Road ("HZRR"),
following the completed acquisition of 75% of the total
issued shares of Widefaith Group Limited ("Widefaith") on 6
January 2012. This marks an important milestone in the
Group's strategy of strengthening its infrastructure
portfolio and shareholder value.
With the completion of the transaction, the Group now
indirectly owns 100% of the total issued shares in each of
Widefaith and Chinese Future Corporation, which together
represent 95% effective interest in the project company
engaging in the operation of HZRR.
The acquisition of HZRR represents a significant addition to
the Group's road portfolio and alignment of its corporate
investment strategy. It will also increase the Group's
presence in Zhejiang Province, enabling it to step up its
investment in the Yangtze River Delta region.
Situated in Hangzhou City of Zhejiang Province, HZRR has a
length of 103.4 km and is one of the longest and busiest dual
2-3 lanes expressways in the Yangtze River Delta Region. The
ring road is connected to several major national expressways
and links up Hangzhou's neighbouring provinces and cities
such as Shanghai, Nanjing, Ningbo and Suzhou.
NWS Holdings' roads portfolio currently comprises 21 roads,
bridges and related projects in Hong Kong and Mainland China,
including Guangdong, Guangxi, Shanxi, Zhejiang and Tianjin.
Altogether these projects cover a total length of
approximately 721 km.
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