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Winfair Investment Co Ltd's Allied (HK) Industrial Limited Announces Acquisition Of 100% Equity Interest In Howe Kaye Investments Limited

Thursday, 10 Oct 2013 12:01am EDT 

Winfair Investment Co Ltd announced that on October 9, 2013, Allied (HK) Industrial Limited (Allied), a wholly owned subsidiary of the Company, entered into a Provisional Sale and Purchase Agreement (the Provisional Agreement) with all existing shareholders of Howe Kaye Investments Limited (the Target Company) (the Vendors), the Independent Third Parties, pursuant to which Allied has agreed to acquire and the Vendors have agreed to sell their 100% equity interest in the Target Company (including the sole property as mentioned in the Provisional Agreement and the Existing Shareholders' Loan of approximately HKD4,523,760) at a consideration of HKD45,380,000 (the Acquisition). The Target Company is principally holding a property located at ground floor including mezzanine floor of No. 76A Waterloo Road, Kowloon (the Property) for investment purpose. The consideration was determined after arm’s length negotiation and was based on normal commercial terms. 

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19 Dec 2014