Shenyang Chengjian Smart Industrial Park Real Estate Development Co., Ltd. completed the acquisition of 51% stake in Shenyang Huitian Real Estate Development Co., Ltd. from Shenyang Huitian Thermal Power Co.,Ltd.
December 28, 2018
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Shenyang Chengjian Smart Industrial Park Real Estate Development Co., Ltd. agreed to acquire 51% stake in Shenyang Huitian Real Estate Development Co., Ltd. from Shenyang Huitian Thermal Power Co.,Ltd (SZSE:000692) for CNY 91.4 million on December 24, 2018. Out of the consideration, CNY 27.5 million have already been paid as a guarantee to the transaction and will automatically be counted as part of the compensation’s payment after signing of the transfer agreement. The rest of the compensation will be paid within 3 days since signing of the agreement in one single installment.
Shenyang Chengjian Smart Industrial Park Real Estate Development Co., Ltd. completed the acquisition of 51% stake in Shenyang Huitian Real Estate Development Co., Ltd. from Shenyang Huitian Thermal Power Co.,Ltd (SZSE:000692) on December 29, 2018. An equity transfer contract (including the debt repayment agreement) and a debt guarantee contract was signed and Shenyang Huitian Thermal Power Co.,Ltd obtained the transfer certificate and completed the industrial and commercial change registration. The consideration was received.
SHENYANG HUITIAN THERMAL POWER CO., LTD. is a China-based company principally engaged in the generation and supply of steam and heat. The Company's principal products and services include heat supply, heat supply engineering and installation works. The Company is also involved in the houses leasing and the scrap selling business. The Company operates its business mainly in Liaoning Province, China.
Shenyang Chengjian Smart Industrial Park Real Estate Development Co., Ltd. completed the acquisition of 51% stake in Shenyang Huitian Real Estate Development Co., Ltd. from Shenyang Huitian Thermal Power Co.,Ltd.