5I5J Holding Group Co., Ltd. signed an agreement to acquire an additional 8% stake in Beijing 5i5j Real Estate Brokerage Co., Ltd from Lin Jie for approximately CNY 500 million.
June 25, 2018
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5I5J Holding Group Co., Ltd. (SZSE:000560) signed an agreement to acquire an additional 8% stake in Beijing 5i5j Real Estate Brokerage Co., Ltd from Lin Jie for approximately CNY 500 million on June 25, 2018. Post-acquisition, 5I5J Holding Group Co., Ltd will increase the shareholding from 90.44% to 98.44% and Lin Jie will reduce the shareholding from 9.56% to 1.56% in Beijing 5i5j Real Estate Brokerage Co., Ltd. As of December 31, 2017, Beijing 5i5j Real Estate Brokerage Co., Ltd reported total assets of CNY 6.03 billion, revenue of CNY 8.2 billion, operating profit of CNY 725.8 million and net profit of CNY 530.9 million. The deal is subject to approval from the shareholders of 5I5J Holding Group Co., Ltd at the 4th extraordinary general meeting. The transaction has been approved by the Board of Directors of 5I5J Holding Group Co., Ltd at 18th session of the 9th directorate meeting held on June 25, 2018. The transaction has been approved by the shareholders of 5I5J Holding Group Co., Ltd. on July 12, 2018.
5I5J HOLDING GROUP CO., LTD. is a China-based company mainly engaged in the real estate business. The Company operates three main businesses. Real estate brokerage business includes second-hand house brokerage business, new house business and overseas business. The property management business is engaged in the residential leasing and property management. The commercial asset management business is engaged in the management of commercial rental operations such as department stores. The Company is also engaged in commercial retail, hotel travel services, real estate development, property services and other services. The Company conducts its business within the domestic market and to overseas markets.
5I5J Holding Group Co., Ltd. signed an agreement to acquire an additional 8% stake in Beijing 5i5j Real Estate Brokerage Co., Ltd from Lin Jie for approximately CNY 500 million.