NWS to Dispose of All Interests in Hyva 3 Group, Reassign All Indebtedness to Buyer

MT Newswires Live10-15

NWS (HKG:0659), a 50%-owned joint venture company, Hyva 1, and its subsidiary agreed to sell all of their interests in the Hyva group, comprising Hyva 3 and its subsidiaries, to JOST Werke SE's subsidiary, JostWerke International Beteiligungsverwaltung.

The agreement will also transfer all the responsibilities of all the debts owed by Hyva group to shareholders of Hyva 1, amounting to about HK$1.66 billion, to JOST, a Monday filing with the Hong Kong Exchange said.

The enterprise value of the Hyva group was estimated to be $425.0 million, while the construction, insurance, and logistics company expects to make a one-off remeasurement loss on the sale, which will impact its income statement for the period ending Dec. 31 by HK$0.44 billion.

Price (HKD): $7.75, Change: $-0.070, Percent Change: -0.90%

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