Guangzhou Pearl River Development Group Co., Ltd. (SHSE:600684) signed the Assets Sale Agreement to acquire Guangzhou Pearl River City Management Service Group Co., Ltd. from Guangzhou Pearl River Enterprises Group Limited and Guangzhou Pearl River Health Resource Management Group Co., Ltd. for 2064.47 million on January 19, 2023. The transaction was approved by Guangzhou Pearl River Development Group Co., Ltd. 1st meeting of the 10th board of directors. The transaction need to be approved by general meeting of shareholders of Guangzhou Pearl River Development Group Co., Ltd.and from Guangzhou Pearl River Enterprises Group Limited. On March 6, 2023, the Guangzhou Pearl River Development receive the Notice on Approving the Major Assets Restructuring Plan from the controlling shareholder Guangzhou Pearl River Enterprises Group Limited, and approved the major asset replacement and major asset sale and related transaction report. As of March 10, 2023, Shareholders of Guangzhou Pearl River Development Group Co., Ltd. (SHSE:600684) approved the transaction.
China International Capital Corporation Limited acted as financial advisor King & Wood Mallesons (Shenzhen) acted as legal advisor to Guangzhou Pearl River Development Group Co., Ltd. in the deal. Guangdong Zhongzhixin Accounting Firm acted as accountant for Guangzhou Pearl River Development Group Co., Ltd.