Lianhua Supermarket Holdings Co (HK:0980) has released an update.
Lianhua Supermarket Holdings Co. is set to sell its entire equity interests in three subsidiaries to Shanghai Dongran for approximately RMB 145.5234 million, after which these entities will no longer be Lianhua’s subsidiaries. Following these disposals, Lianhua plans to sign a three-year Entrustment Management Agreement to continue providing management services to the sold entities. The deals are classified as connected transactions, requiring shareholder approval as per Listing Rules due to the relationship between Lianhua and the buyer, Shanghai Dongran, both connected to the Bailian Group.
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