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BRIEF-Red Star Macalline Group announces purchase of Jinshan Property
August 28, 2017 / 2:21 PM / 3 months ago

BRIEF-Red Star Macalline Group announces purchase of Jinshan Property

Aug 28 (Reuters) - Red Star Macalline Group Corp Ltd -

* Project co is Shanghai Jinshan Red Star Macalline Global Home Furnishing Co Ltd

* Shanghai Red Star Macalline Real Estate agreed to sell for an aggregate consideration of RMB520 million

* Connected transaction in relation to acquisition of Jinshan Property

* Company entered into equity transfer agreement with Shanghai Red Star Macalline Real Estate Co (seller)

* In addition, there will be a provision of shareholder’s loan of RMB495 million from co to project co Source text: (bit.ly/2xGiWsS) Further company coverage: (bangalore.newsroom@thomsonreuters.com)

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