BRIEF-China Overseas Land & Investment Says Formation Of Joint Venture

Reuters2023-12-15

Dec 15 (Reuters) - China Overseas Land & Investment Ltd

* FORMATION OF JOINT VENTURE IN RELATION TO LAND IN GUANGZHOU, PRC AND DEEMED DISPOSAL

* FOLLOWING COMPLETION, JV COMPANY WILL BE OWNED AS TO 90% AND 10% BY GUANGAO AND CCFED

* FORM A JV THROUGH JV COMPANY FOR PURPOSE OF INVESTING INTO AND DEVELOPING GUANGZHOU PROJECT

* UNITS AND GUANGZHOU QIRUI REAL ESTATE DEVELOPMENT ENTERED INTO COOPERATION AGREEMENT

* JV CO HAS REGISTERED CAPITAL OF RMB20 MILLION

* UNDER AGREEMENT REGISTERED CAPITAL OF JV CO SHALL BE INCREASED FROM RMB20 MILLION TO RMB3,000 MILLION

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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