Guangzhou Jinke Real Estate Development Co., Ltd. and Guangzhou Yinong Enterprise Co., Ltd. entered into Equity Transfer Agreement to acquire 70% stake in Guangzhou Xinze Jiyong Real Estate Development Co.,Ltd from Shaanxi International Trust Co., Ltd. for approximately CNY 420 million.
December 08, 2021
Share
Guangzhou Jinke Real Estate Development Co., Ltd. and Guangzhou Yinong Enterprise Co., Ltd. entered into Equity Transfer Agreement to acquire 70% stake in Guangzhou Xinze Jiyong Real Estate Development Co.,Ltd from Shaanxi International Trust Co., Ltd. (SZSE:000563) for approximately CNY 420 million on December 9, 2021. As per terms, the consideration for transfer of 35.7% equity interest to Guangzhou Yinong shall be approximately CNY 215.6 million and for 34.3% equity to Guangzhou Jinke shall be approximately CNY 207.1 million. Currently, Guangzhou Xinze Jiyong Real Estate Development is held by Shaanxi Trust, Guangzhou Yinong and Guangzhou Jinke as to 70%, 15.3% and 14.7%, respectively. Guangzhou Yinong and Guangzhou Jinke shall nominate two directors and
one director, respectively. Guangzhou Yinong shall have the right to appoint the chairman of the board of directors.
SHAANXI INTERNATIONAL TRUST CO.,LTD. is a China-based company principally engaged in the trust business. The Company operates its business through three segments. Trust segment includes securities investment trust, equity trust, financing trust and affair management trust. Inherent segment includes inherent capital loans and investment businesses, such as financial products investment and financial interests. Other segment is mainly engaged in the leasing of shops and the transferring of parking assets. The Company operates its business mainly in domestic market.
Guangzhou Jinke Real Estate Development Co., Ltd. and Guangzhou Yinong Enterprise Co., Ltd. entered into Equity Transfer Agreement to acquire 70% stake in Guangzhou Xinze Jiyong Real Estate Development Co.,Ltd from Shaanxi International Trust Co., Ltd. for approximately CNY 420 million.