China Merchants Land (00978) plans to acquire 50% of the shares of Foshan Eyun Real Estate Co., Ltd.

Zhitongcaijing · 2d ago

Zhitong Finance App News, China Merchants Land (00978) announced that on October 16, 2026, Guangzhou China Merchants Real Estate Co., Ltd. (Guangzhou), an indirect wholly-owned subsidiary of the company, entered into an equity transfer agreement with Jiulongchang Real Estate (Guangzhou) Co., Ltd. (Jiulongchang Guangzhou) and Foshan Eyun Real Estate Co., Ltd. (target company). Based on this, Jiulong Cang Guangzhou agreed to transfer 50% of its shares in the target company to Guangzhou, at a cost of about 938 million yuan. It will bear about 1,008 billion yuan of debt owed to target companies by Jiulong Cang Guangzhou. Once the acquisition is completed, the target company will become an indirect wholly-owned subsidiary of the Company.

According to the equity transfer agreement, the transfer price will be calculated as follows: The cost of the shares to be sold is about 938 million yuan, plus the 885 million yuan debt of Jiulong Cang, minus about 1,008 million yuan of debt of Jiulong Cang, which is equal to about 115 million yuan, and will be paid by Guangzhou China Merchants in cash to Jiulong Cang Guangzhou.