Shui On Land Ltd. · HKEX:272
Shui On Land — Merger or Acquisition (September 2017)
5 slides from Shui On Land's merger presentation, September 2017
Slide 1: Disposal of 49% Equity Interests in KIC Project
Shui On Land Limited (0272.HK) Disposal of 49% Equity Interests in KIC Project September 2017
Slide 2: Transaction Details
Transaction Details On 30 September 2017, Shui On Development (the Vendor) and Wisdom Forever Limited Partnership (the Purchaser) have entered into the sale and purchase agreement in relation to the disposal of 49% equity in the target Companies. One of the target companies, Merry Wave, indirect
Slide 3: Transaction Highlights
Transaction Highlights Located at KIC project, consists of approximately 252,775 sq.m. completed mixed-use properties & 1,866 parking lots. Amount (RMB’mn) Recognised as Contracted Sales* 2,949 Agreed Net Asset Value as of 30 June 2017 2,689 Net Proceeds** 2,751 * Contracted Sales equals to the ini
Slide 4: Implied Asset Valuation
Implied Asset Valuation The implied asset value will be RMB35,536/sq.m. based on above ground GFA. KIC Disposal Total Leasable GFA 252,775 sq.m. - Above ground 227,813 sq.m. - Below ground 24,963 sq.m. Deal Structure Offshore minority interest disposal Implied Asset Value: - Based on total GFA RMB
Slide 5: Reasons for and Benefits of the Disposal
Reasons for and Benefits of the Disposal SOL has adopted an Asset-light strategy since 2015 to diversify its capital source and to enhance shareholders return by i) divesting its mature investment properties and under-utilized assets to improve its asset turnover ratio, and ii) cooperating with pa
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