Sinolink Worldwide Unit Offloads School Business
MT Newswires Live03-04
Sinolink Worldwide Holdings' (HKG:1168) subsidiary Sinolink Properties agreed to transfer Shenzhen Luohu Sinolink Primary School and its related business to Shenzhen Baihuan Education Consulting Service at nil consideration.
Due to the unsuitability of the school's management and to comply with the latest relevant regulations, the company decided to transfer the loss-making school to a third party.
Under the agreement, the transferor is entitled to a repayment of 16.3 million yuan, comprising the original investment amount and a loan to the school.
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