Yuexiu Property (HKG:0123) agreed to dispose of a portfolio of assets and businesses through the transfer of target companies to connected parties, according to a Monday Hong Kong bourse filing.

The transactions involve assets including Nansha IFC, Yungu Industrial Park, Zhigu Industrial Park, Bijie Hotel, and healthcare, nursing, and elderly care businesses, the filing showed.

Total net proceeds are estimated at 4.46 billion yuan, with about 400 million yuan to be used for debt repayment and the remaining 4.06 billion yuan for working capital.

Following completion, the target companies will cease to be subsidiaries and their financial results will no longer be consolidated.