Mainboard-listed property developer Sinolink Worldwide Holdings is to buy a 29.9 per cent stake in mainboard-listed property investor SilverNet Group for HK$163.4 million, by paying HK$81.8 million cash and issuing a HK$81.6 million convertible note with a convertible price of 80 HK cents for each Sinolink share. Sinolink has also agreed to sell a 70 per cent stake in Shenzhen Fuhuade Electric Power to SilverNet for HK$360.4 million, of which HK$163.4 million will be settled by cash and HK$197 million by a loan from Sinolink to SilverNet.
