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Shun Tak Holdings to buy 50% equity interests in 2 project companies

Shun Tak Holdings Ltd. is paying the final bid prices of 2.23 billion yuan and 2.48 billion yuan for the public tenders of 50% equity interests in two project companies from China Resources Land (Shanghai) Ltd.

Its Shanghai Tongxin unit will buy a 50% equity interest in Shanghai Huahe, while its Shanghai Suzuan subsidiary is set to acquire 50% equity interest in Shanghai Huayan.

Both considerations for Huahe and Huayan will be paid through Shun Tak's internal resources.

As of Dec. 4, US$1 was equivalent to 7.05 yuan.