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CTF SERVICES Sells Changsha-Liuyang Expressway for RMB1.61B
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CTF SERVICES (00659.HK) announced that it has agreed to sell 100% equity interest in Hunan CTFS Expressway to the Shanghai Municipal State-owned Assets Supervision and Administration Commission (Shanghai SASAC) for a total consideration of approximately RMB1.61 billion. Hunan CTFS Expressway has also agreed to repay shareholder loans within 30 business days after the completion date. Hunan CTFS Expressway has been operating the Changsha-Liuyang Expressway project, which is connecting Changsha and Liuyang. The net proceeds from the Transaction are expected to be used for redeployment into investments that align with the Group’s strategic priorities and that offer long-term growth potential with more attractive risk-adjusted returns; and other general corporate purposes of the Group. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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