Debt-ridden Guangdong Investment (GDI) is not planning to dispose of its interests in non-core businesses Guangdong Brewery Holdings and Guangdong Tannery, according to a company executive. GDI would hold on to the subsidiaries because their operations were performing well, director Ye Xuquan said. The company owns 72 per cent of Guangdong Brewery and 71.56 per cent of Guangdong Tannery. The share prices of Guangdong Brewery and Guangdong Tannery - both listed on the main board - jumped last week on rumours GDI would sell its holdings. GDI announced last week that it had reached an agreement with independent third party Hi Sun to dispose of its entire 57.16 per cent interest in Guangdong (GD) Building. The total consideration is HK$31.48 million in cash, or 65.4 HK cents a share, for GDI's 48.13 million GD Building shares. Under the disposal agreement, GDI undertook to waive an intra-group debt of about HK$209 million owed to GDI by GD Building. It was part of GDI's restructuring plan to sell its loss-making and non-core businesses to help repay debt. Mr Ye said GDI needed to repay HK$4.5 billion in the coming five years.