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P&R and Cosmo (0120) acquire shares in AMTD Intl (NYSE:HKIB) | Circular
Company announcement, 2-Jan-2020
P&R is owned 50:50 by Paliburg (0617) and its subsidiary Regal Hotels (0078). P&R's subsidiary Cosmo sells, on the year-end date, a failed investment in Yuancheng Logistics to Fortis Fund IV Ltd. The circular reveals this is owned by Mr Cong Lin, a director of a controlling shareholder of AMTD Group. In return, Cosmo buys 6.069m A-shares in AMTD Intl from AMTD Group for HK$400m. P&R is also sells 4.98% of Cosmo to International Merchants Holdings for HK$374m. The circular reveals this is 90% owned by Qu Xiao Chuan. In return, P&R buys 5.674m A-shares of AMTD Intl for HK$374m. Finally, P&R sells 50% of a hotel in Sheung Wan to AMTD Group for $270m (net of debt), of which $60m is in cash and the rest an IOU.
Organisations
- AMTD Group Inc. 尚乘集團有限公司
- AMTD IDEA Group
- AMTD Property Investment Holdings Limited
- CENTURY CITY INTERNATIONAL HOLDINGS LIMITED
- Clear Radiant Limited
- Cosmopolitan International Development Limited
- COSMOPOLITAN INTERNATIONAL HOLDINGS LIMITED
- Dense Globe Investments Limited
- FINE COSMOS DEVELOPMENT LIMITED 遠亨發展有限公司
- Fortis Fund IV Limited
- Groupsource Investments Limited
- International Merchants Holdings
- Lendas Investments Limited
- P&R Finance Limited 百富金融財務有限公司
- P&R Holdings Limited
- PALIBURG HOLDINGS LIMITED
- REGAL HOTELS INTERNATIONAL HOLDINGS LIMITED
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