GUANGDONG INV Subsidiary to Divest 35% Stake in Guangdong AEON

Stock News
03/30

GUANGDONG INV (00270) has announced that the seller, Guangdong Yuehai Tianhe City Department Store Development Co., Ltd., an indirect non-wholly owned subsidiary of the company, intends to conduct a public tender on the Guangdong Equity Exchange to sell its 35% equity interest in Guangdong AEON, an associate of the company. The minimum consideration for the potential sale is set at RMB 152 million, which serves as the lowest bid price. The final sale price will be determined by the ultimate bid, though it cannot fall below the minimum amount under any circumstances. Should the transaction proceed to completion, the seller will no longer hold any equity in Guangdong AEON. In recent years, the frequency and amount of cash dividends distributed by Guangdong AEON have shown a declining trend. After evaluating the overall development trajectory of Guangdong AEON and considering the group's strategic development plans, the board believes that the potential divestment would help the group focus on its core operations, particularly its water resources business, optimize its asset structure, and is expected to benefit the group's overall development.

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