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CSI Properties unit completes sale of retail, hotel assets for HK$1.70B

Beham Capital Ltd., a subsidiary of CSI Properties Ltd., completed the sale of hotel and retail assets totaling HK$1.70 billion after shareholders allowed it to divest its interests in Uttermost Holdings Ltd.

CSI Properties revealed in a Jan. 9 filing that Beham Capital signed a deal with Compass Times International Ltd. to carry out the sale of its entire interests in Uttermost, a resolution that moved forward after CSI Properties' shareholders' approval.

CSI Properties earlier indicated proceeds from the sale will be used as general working capital of the group.

The company added that the sale was completed March 31.