Guangxi Real Estate Group Co., Ltd. completed the acquisition of Guangxi Zhouqi Investment Co., Ltd.Qinzhou Qinlian Forestry Investment Co., Ltd. from Guangxi Wuzhou Communications Co., Ltd.
September 02, 2020
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Guangxi Real Estate Group Co., Ltd. won the bid to acquire Guangxi Zhouqi Investment Co., Ltd. and Qinzhou Qinlian Forestry Investment Co., Ltd. from Guangxi Wuzhou Communications Co., Ltd. (SHSE:600368) for approximately CNY 170 million on July 6, 2020. Guangxi Real Estate Group Co., Ltd. entered into an equity transfer agreement to acquire Guangxi Zhouqi Investment Co., Ltd.Qinzhou Qinlian Forestry Investment Co., Ltd. from Guangxi Wuzhou Communications Co., Ltd. on September 3, 2020.
Guangxi Real Estate Group Co., Ltd. completed the acquisition of Guangxi Zhouqi Investment Co., Ltd.Qinzhou Qinlian Forestry Investment Co., Ltd. from Guangxi Wuzhou Communications Co., Ltd. on September 3, 2020. As of August 21, 2021, Guangxi Wuzhou received a repayment of approximately CNY 450 million from Guangxi Real Estate, of which, the equity transfer price of Zhouqi was CNY 104 million and the debt was CNY 190 million and Qinzhou Qinlian with a debt of CNY 143 million and the corresponding interests of the repayment is CNY 16 million.
GUANGXI WUZHOU COMMUNICATIONS CO., LTD. is a China-based company, principally engaged in toll collection of roads and real estate business. The Company mainly operates three roads: Tanbai Road, Cenluo Road and Pingbin Road. Its real estate projects include self-built projects, agent construction projects and land projects to be developed. The Company is also engaged in logistics and trading businesses. The Company conducts its businesses within domestic markets and to overseas markets.
GUANGXI WUZHOU COMMUNICATIONS CO., LTD. 
