Shanghai Jiabao Industry & Commerce Co.,Ltd. agreed to acquire 51% stake in Everbright Ashmore Real Estate Investment Consultation Co., Ltd. and Everbright Ashmore Assets Management Co., Ltd.
November 01, 2016
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Shanghai Jiabao Industry & Commerce (Group) Co.,Ltd. (SHSE:600622) agreed to acquire 51% stake in Everbright Ashmore (Beijing) Real Estate Investment Consultation Co., Ltd. and Everbright Ashmore (Beijing) Assets Management Co., Ltd. on November 2, 2016. The transaction is subject to shareholder approval of Shanghai Jiabao Industry & Commerce (Group) Co.,Ltd. As on November 18, 2016, the shareholders of Shanghai Jiabao Industry & Commerce (Group) approved the transaction. As on November 29, 2016, Shanghai Jiabao Industry & Commerce (Group) completed the registration change of receiving 51% stake in Everbright Ashmore (Beijing) Real Estate Investment Consultation Co., Ltd. and Everbright Ashmore (Beijing) Assets Management Co., Ltd. at Industrial and Commercial Administration Authorities. As on January 3, 2017, Shanghai Jiabao Industry & Commerce (Group) paid phase I consideration.
Everbright Jiabao Co., Ltd., formerly SHANGHAI JIABAO INDUSTRY & COMMERCE (GROUP) CO., LTD., is a China-based company, principally engaged in real estate development and distribution. The Company operates its businesses through real estate development, which involves in development and distribution of residential communities and commercial buildings. The Company also involves in property leasing and property management businesses. The Company operates its businesses in Eastern China.
EVERBRIGHT JIABAO CO., LTD. 
