Brief: China Yongda Automobiles Services announces disposal, acquisition regarding Shanghai Yongda Automobile

China Yongda Automobiles Services Holdings

14/04/2016 23:08

April 15 (Reuters) - China Yongda Automobiles Services Holdings Ltd 
 3669.HK : 
 
 * Yongda auto-(1) very substantial disposal and very substantial acquisition in 
relation to the proposed disposal of 100% equity interests in Shanghai Yongda 
Automobile Group Co., Ltd. and the proposed subscription of shares in Suzhou 
Yangtze new materials 
 * Yongda investment entered into share transfer agreement with Shanghai 
Qinshuolai 
 * Consideration for the automobile group disposal is RMB12 billion 
 * Total consideration for share transfer agreement of RMB324.8 million 
 * Says company expects that a loss of approximate RMB1.7 billion would arise as 
a result of the asset restructuring 
 * Yongda investment entered into material asset disposal agreement for total 
consideration of RMB612.9 million 
 * To raise funds for the further development of automobile group no more than 
RMB5 billion 
 * Source text for Eikon  urn:newsml:reuters.com:*:nHKSbsnMKJ 
 
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