NWS Holdings Limited (“NWS Holdings” or the “Group”; Hong Kong stock code: 659) announced today that its wholly-owned subsidiary has signed a sale and purchase agreement to sell the entire effective interest in NWS Kwai Chung Logistics Centre to a wholly-owned logistics subsidiary of China Resources Enterprise, Limited, at an aggregate cash consideration of HK$3.75 billion.
The gain arising from the disposal will be largely recognised by means of fair value gain of approximately HK$0.85 billion in the financial year ending 30 June 2016.
Tsang Yam Pui, Chief Executive Officer of NWS Holdings, said, “The transaction represents a good opportunity for NWS Holdings to unlock the value of this property and further enhance shareholder value. The net proceeds will be used for general working capital and funding other investment projects.”
Located at Kwai Chung Container Terminals, NWS Kwai Chung Logistics Centre is a five-storey ramp-access logistics facility with a gross floor area of 694,000 sq. ft. It has been fully leased out since commencing operation in 2011.
NWS Holdings Limited
NWS Holdings Limited (“NWS Holdings”, Hong Kong stock code: 659), the infrastructure and service flagship of New World Development Company Limited (Hong Kong stock code: 17), operates businesses in Hong Kong, Mainland China and Macau. Its Infrastructure portfolio includes Roads, Environment, Logistics and Aviation projects. Its Services portfolio comprises Facilities Management (the management of Hong Kong Convention and Exhibition Centre and Free Duty), Construction & Transport (construction, bus and ferry services) and Strategic Investments.
China Resources Enterprise, Limited
China Resources Enterprise, Limited is a wholly-owned subsidiary of China Resources (Holdings) Company Limited. It is the holding company of Hong Kong listed China Resources Beer (Holdings) Company Limited and is principally engaged in beer, food, beverage, investment properties and logistics businesses and the operation of the coffee chain Pacific Coffee.