Link Real Estate Investment Trust (SEHK:823) entered into an agreement to acquire Happy Valley Shopping Mall from a local government property manager for CNY 3.2 billion from a local government property manager on June 4, 2021. Link Real Estate will acquire shares and loans of Happy Valley Shopping. The transaction will be funded from Cash, existing and new debt facilities of Link. For year ended December 31, 2020, Happy Valley Shopping reported revenues of CNY 65.02 million. The transaction is subject to seller having complied with all of its obligations relating to certain specified loans. Link may waive any of the completion conditions. The transaction is expected to close in June 2021. Colliers International (Hong Kong) Limited acted as an independent property valuer to Link. Zhong Lun Law Firm acted as a legal advisor to the manager and Link. Ernst & Young acted as financial advisor and due diligence provider to Link Real Estate Investment Trust in the transaction.

Link Real Estate Investment Trust (SEHK:823) completed the acquisition of Happy Valley Shopping Mall from a local government property manager from a local government property manager on June 28, 2021. All the conditions under the sale and purchase agreement having been fulfilled.