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Parkson Retail Group Ltd's Beijing Huadesheng Property Management Co., Ltd Announces Execution Of Cooperative Agreement

Thursday, 20 Dec 2012 05:19am EST 

Parkson Retail Group Ltd announced that through Beijing Huadesheng Property Management Co., Ltd., an indirect fully owned subsidiary entered into a Cooperative Agreement with the Shanghai Industrial Qingdao Development Co., Ltd. (Vendor) to acquire the land use right and the building ownership right of the Qingdao Shopping Mall. The Vendor undertakes to construct the Qingdao Shopping Mall according to the building specifications provided by the Purchaser and to handover the completed Qingdao Shopping Mall to the Purchaser on or before July 31, 2015. The Purchaser will acquire the construction in progress of the Qingdao Shopping Mall from the Vendor, the consideration would be the sum of RMB441.6 million and the Construction Cost incurred and paid for at the time of transfer. The consideration will not be more than the Acquisition Price of RMB1,570.0 million. 

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24 Oct 2014