Shenyang Chengjian Smart Industrial Park Real Estate Development Co., Ltd. agreed to acquire 51% stake in Shenyang Huitian Real Estate Development Co., Ltd. from Shenyang Huitian Thermal Power Co.,Ltd for CNY 91.4 million.
Shenyang Chengjian Smart Industrial Park Real Estate Development Co., Ltd. agreed to acquire 51% stake in Shenyang Huitian Real Estate Development Co., Ltd. from Shenyang Huitian Thermal Power Co.,Ltd (SZSE:000692) for CNY 91.4 million on December 24, 2018. Out of the consideration, CNY 27.5 million have already been paid as a guarantee to the transaction and will automatically be counted as part of the compensation’s payment after signing of the transfer agreement. The rest of the compensation will be paid within 3 days since signing of the agreement in one single installment.