On June 29th, BANK OF GANSU (HKEX: 02139) disclosed an announcement concerning a connected transaction. The bank disposed of a batch of non-performing credit assets through a public bidding process. Gansu Asset Management Co., Ltd. emerged as the successful bidder. Both parties signed the asset transfer contract on the same day.
The transaction involves the bulk transfer of non-performing credits from 12 debtors. The total consideration for the deal amounts to 51.41 million yuan.
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