Fosun International updates Guangzhou Taotall stake sale as Hangzhou Tianyuan shifts RMB316.58 million payment to cash-only

Reuters03-18

Fosun International updates Guangzhou Taotall stake sale as Hangzhou Tianyuan shifts RMB316.58 million payment to cash-only

Fosun Joygo agreed to sell its equity interest in Guangzhou Taotall to Hangzhou Tianyuan. Under a third supplemental agreement, the consideration payable to Fosun Joygo remains RMB316.58 million, but will be settled in cash only. The revised payment method removes any subscription component involving A shares to be issued by Hangzhou Tianyuan.

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