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China Soft Power (0139) to indirectly buy 1 Lincoln Road for HK$330m
Company announcement, 14-Jul-2017
CSP is buying a HK company for $16m, which owes $314m to complete the purchase of a BVI company which owns the property. The original purchase price was $360m so it appears that the vendor to CSP is taking a $30m loss. CSP bought 2 Lincoln Road, opposite number 1, for HK$227m in cash and convertible bonds in Nov-2016. The property is described as "a house" but records suggest it was built as 3 adjoining houses in 2008.


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