Hope Life International Eyes 51% Stake in Guangdong CBD; Shares Fall 5%

MT Newswires Live02-04 11:46

Hope Life International (HKG:1683) signed a memorandum of understanding to negotiate the acquisition of a 51% stake in Guangdong CBD, according to a Tuesday Hong Kong bourse filing.

Shares of the construction services provider were down more than 5% in Wednesday morning trade.

The proposed deal is subject to due diligence and the signing of a definitive agreement within three months, with consideration to be determined based on an independent valuation, the filing showed.

Hope Life has been granted a two-month exclusivity period, during which it may conduct legal, financial, and operational due diligence.

Guangdong CBD operates intelligent self-service car washing and related public ancillary services across 67 cities in China, according to the filing.

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