Chinasoft International Increases Stake in Software Subsidiary
Chinasoft International, 12/14/12
Chinese software developer Chinasoft International (0354.HK) and SII International Holding Limited (BVI), a wholly owned subsidiary of Shanghai Information Investment, have entered into a sale and purchase agreement whereby SII International Holding Limited has agreed to sell a 2.4% equity interest in Shanghai Huateng Software Systems to Chinasoft International at a consideration of HKD 8,866,800. The consideration shall be satisfied in full by the issue of the Consideration Shares at an issue price of HKD 1.80 per Consideration Share.
As of the date of this announcement, Shanghai Huateng Software Systems is a non wholly-owned subsidiary of Chinasoft International in which Chinasoft International beneficially owns approximately 86.4% of its equity interest. Upon the completion of the acquisition, Chinasoft International's equity stake in Shanghai Huateng Software Systems will increase to approximately 88.9%.
Keywords: ChinaSoft International 0354.HK Shanghai Information Investment software SII International Holding Huateng Software Systems M&A
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