The consideration is arrived at on a willing-buyer and willing-seller basis after arms-length negotiations.
GuocoLand (China), the wholly-owned subsidiary of GuocoLand, has entered into an equity transfer agreement with Beijing Wennuan Shiguang Technology Development (WNSG) on April 15.
Under the agreement, GuocoLand (China) will transfer 100% of its equity interest in Beijing Jiang Sheng Property Development (BJJS) to WNSG for a consideration of RMB3.0 million ($613,517) and will be paid in cash.
