SHAREHOLDERS APPROVE CHI CHEUNG PROPERTY DEAL

PUBLISHED : Saturday, 29 March, 2003, 12:00am
UPDATED : Saturday, 29 March, 2003, 12:00am
 

Shareholders of Chi Cheung Investment yesterday approved a proposal to acquire 13 property assets worth HK$615.8 million from parent company Chinese Estates. The deal involved the issue of 11.85 billion Chi Cheung shares as a part-payment which would dilute the minority shareholders' interest from 27.3 per cent to 5.7 per cent. Group chairman Thomas Lau Luen-hung said there was no plan to privatise Chinese Estates.


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