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G-Resources (1051) buys 17-19/F of Axa Centre from CSI Properties (0497) for HK$780m.
Company announcement, 11-Aug-2015
The deal includes 10 car park spaces. CSI arranged 3 BVI subsidiaries to agree to buy one floor each from another subsidiary more than 2 years ago, so there will be no stamp duty payable on their transfer, inside another BVI shell, to G-Resources, avoiding 8.5% or HK$66.3m of Double Stamp Duty.