SUN Hung Kai Hong Kong Industries (SHKI) plans to sell shares and shareholder loans in Ready City, a company with a 33.34 per cent stake in SeaLand Orient Terminals, generating a surplus before costs of HK$362.27 million. SHKI said the purchasers would be Peak Success and Enrich. SHKI owns 71 HK$1 Ready City shares or 35.5 per cent of Ready City's share capital, and a shareholder loan worth about HK$162.79 million, and was a 'sub-participant' in a loan worth US$270,774. It said the loans and its 71 shares represented its entire interest in Ready City, and would be sold for US$86.87 million, representing a 'substantial' capital gain. The transfer of shares and the HK$162.79 million shareholder loan was subject to the consent of the agent of the lenders of a US$40 million term loan to Ready City, SHKI said. If the lenders did not consent, another loan would be syndicated to enable Ready City to prepay the US$3.48 million outstanding amount on the US$40 million loan. Ready City's main asset was the stake in SeaLand Orient Terminals, which was mainly engaged in the operations of the third container terminal at Kwai Chung under a private treaty with the Hong Kong Government in 1970. SHKI said the purchase price was the equivalent of HK$671.88 million, representing 65 per cent of SHKI's net asset value. It predicted the sale would generate a HK$362.27 million surplus before costs.