Onewo's (HKG:2602) subsidiary Shenzhen Vanke Property Service agreed to acquire 75% of the equity interest in Shenzhen Fuke Industrial Operation Management from Shenzhen Vanke Industrial Development for an initial consideration of 142.1 million yuan, a Tuessday Hong Kong bourse filing said.
The transaction will also see the transfer of 30% interest in the ownership right of certain property assets located at 01 (S01, Y03), Smart I&T Building, No. 1, Guangxia Road, Meiting Community, Meilin Street, Futian District.
After the completion, the target, a park operation and management and property lease company, will become a subsidiary of the company and the company will use the target assets for its own use.
The purchaser will be funding the acquisition with its internal financial resources.
