News summary
LHN(01730asteroidsvideogame.HK) completed the acquisition of GSM properties, with the remaining consideration of 72 million Singapore dollars paid through bank borrowings, and the group sold its 20% interest to MDPL.
Newsletter text
[LHN Group (01730.HK) completed the acquisition of GSM properties, with the balance of consideration of 72 million Singapore yuan paid on May 9]
On May 9, LHN Group announced that the acquisition transaction with GSM Property had been officially completed.
It is reported that the balance of the consideration for the GSM property is 72 million Singapore, after deductingasteroidsvideogameGoods and services tax paid in advance. In addition, the buyer has submitted a request to Macritchie Developments Pte. Ltd. sold a 20% buyer's interest, leaving LHN Group and MDPL holding 80% and 20% respectively.
The payment of the balance of the consideration has been settled through the buyer's bank loan, injecting new vitality into the financial stability of LHN Group.