Evergrande Real Estate Group Limited (SEHK:3333) signed an agreement to acquire additional 13.31% stake in Shengjing Bank Co.,Ltd. (SEHK:2066) from Beijing Zhaotai Group Co., Ltd., Shanghai Guozheng Investment Management Co., Ltd., Tibet Jinduo Investment Management Co., Ltd. and Shenyang Tonglian Group Co., Ltd. for CNY 7.7 billion on April 28, 2016. Under the terms of the agreement, Evergrande will acquire 150 million shares from Shenyang Tonglian Group, 115.68 million shares from Shanghai Guo Zheng Investment & Management and 300 million shares from Beijing Zhaotai Group for CNY 10 per share. As a result of transaction, Evergrande will increase its stake to 27.2%. 10% on the consideration will be payable by within three business days from the date on which the China Securities Depository and Clearing Company Limited (CSDCC) confirms that the shares to be transferred under such agreement are free of pledge, encumbrances or any restriction. 90% of the consideration will be payable by depositing into an escrow account designated by the parties within three business days from the date on which Evergrande has obtained the approval in respect of its shareholding in Shengjing Bank or the approval of shareholders qualification from the banking regulatory authorities. 90% of the consideration will be transferred within three business days from the date on which the related shares have been transferred to Evergrande and registered with the CSDCC and Evergrande has been registered as a shareholder of Shengjing Bank. Tibet Jinduo Investment Management Co.,ltd. will sell 206 million shares for CNY 2.06 billion.

In related deal, Evergrande entered into agreement to acquire Shanghai Jiawan Industrial Investment Co., Ltd. and Shanghai Xingjia Investment Management Co., Ltd. The transaction is subject to approval of banking regulatory authorities.

Evergrande Real Estate Group Limited (SEHK:3333) completed the acquisition of additional 13.31% stake in Shengjing Bank Co.,Ltd. (SEHK:2066) from Beijing Zhaotai Group Co., Ltd., Shanghai Guozheng Investment Management Co., Ltd., Tibet Jinduo Investment Management Co., Ltd. and Shenyang Tonglian Group Co., Ltd. on April 28, 2016.