China Qinfa Group Ltd. (HK:0866) has released an update.
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China Qinfa Group Ltd. has announced a significant deal involving the sale of a 40% stake in a target company to Zhejiang Energy International Limited, for a sum of RMB2,950 million. The deal will restructure the target company as an indirect non-wholly owned subsidiary of China Qinfa Group, with the latter retaining a 60% interest post-transaction. Shareholders are advised to exercise caution as the completion of the deal is pending approval at an upcoming Extraordinary General Meeting (EGM).
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