DGAP-News: Yuxinlong International Ltd.: Yuxinlong Closes Purchase of Zheng Feng Real Estate Development
(firmenpresse) - DGAP-News: Yuxinlong International Ltd. / Key word(s):
Acquisition/Mergers&Acquisitions
Yuxinlong International Ltd.: Yuxinlong Closes Purchase of Zheng Feng
Real Estate Development
19.01.2012 / 10:00
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Yuxinlong Closes Purchase of Zheng Feng Real Estate Development
MISSISSAUGA, ON - Yuxinlong International Limited, ('YL0') (Börse Frankfurt
YL0) June, 2011 Yuxinlong closes purchase of Zheng Feng real estate
development with the total payment of 23 million U. S. dollars for 70%
ownership of Zheng Feng and all of Zheng Feng's real estate holdings in the
Tang Hai area.
The acquisition makes Yuxinlong the largest real estate developer in Tang
Hai area. Zheng Feng's decision to join Yuxinlong is based on the financial
strength and engineering capabilities. Yuxinlong will inject capital and
manpower to speed up the construction and jointly market the finished
projects to the government and the public market.??The estimated total
investment of this acquisition is around 77 million; 23 million for the
project, and additional 56 millions of work to be done by the join entity.
The properties will be sold for around 93 million U. S. dollars. ' We are
so excited Zheng Feng decided to join the Yuxinlong Group, we will be the
force to reshape Tanghai County into a modern harbor city for decades to
come. Yuxinlong is so proud to have a premier real estate developer in
ZhengFeng to join our team, together we will be able to take on the
challenge of heightened demand of real estate due to the accelerated growth
in the region ' said Mr. Wang Ying Chun, the CEO of Yuxinlong.
About Yuxinlong International Limited?Yuxinlong International Limited was
founded in 2007 and is now the largest real estate developer in Tanghai
County, China. Yuxinlong currently employs a workforce of 2000 which is
managed by a 79 member management team. The company's projects are located
in an area designated as China's next economic and development zone.
Yuxinlong's major project in the area is the 'Tang Hai Bright Pearl
Development', a project which encompasses eight residential buildings with
over 161,000 square meters under construction.
End of Corporate News
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153345 19.01.2012
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Datum: 19.01.2012 - 10:00 Uhr
Sprache: Deutsch
News-ID 105680
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