Brief: CNT Group's Unit To Dispose Ocean Wide To Jetco

CNT

10/09/2018 15:11

Sept 10 (Reuters) - CNT Group Ltd  0701.HK :
    * APPLICATION MADE TO STOCK EXCHANGE FOR RESUMPTION OF
TRADING OF
SHARES FROM SEPT 11
    * UNIT TO DISPOSE OF ENTIRE ISSUED SHARE CAPITAL OF OCEAN
WIDE AND
OCEAN WIDE SHAREHOLDER'S LOAN TO JETCO (H.K.) AT HK$900 MILLION
    * ANNOUNCES ACQUISITION OF NIGON HONG KONG LTD AND NIGON
SHAREHOLDER’S LOAN FROM JETCO FOR HK$530 MILLION
    * EXPECTS THAT GROUP WOULD RECORD A GAIN FROM PROPOSED
DISPOSAL OF
ABOUT HK$494.4 MILLION BEFORE TAX AND TRANSACTION COSTS
    * PROPOSED DISPOSAL & ACQUISITION MAY BE POTENTIALLY
ACCRETIVE TO
NET ASSET VALUE OF GROUP AS A WHOLE

Source text for Eikon:  ID:nHKS836gw9 
Further company coverage:  0701.HK 

 ((Reuters.Briefs@thomsonreuters.com;))