Man Sang International to Sell Japanese Hotel in HK$104 Million Deal

MT Newswires Live

03/13

Man Sang International (HKG:0938) agreed to sell the holding company of a hotel in Japan to China JinNiu Group in a HK$104 million deal, according to a Hong Kong bourse filing Thursday.

Shares of the property developer fell nearly 3% in morning trade Friday.

The firm will sell Decent Start for HK$88.5 million, with China JinNiu Group assuming a loan of HK$15.5 million on top.

Decent Start owns the Hokkaido Hotel located in Yoichi town of Hokkaido, Japan.

Man Sang expects to record a gain of HK$64.9 million from the sale, it said.

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