Tianfang development: it plans to transfer the equity and debt restructuring of the subsidiary to the controlling shareholder
Cailian, Dec. 14 (Xinhua) Tianfang development announced that the company plans to transfer 17.61% equity of Geely building, a holding subsidiary, to the controlling shareholder of the company at the price of 210 million yuan. Both parties agree to pay the equity consideration by offsetting the 210 million yuan creditor's rights of Tianfang Development held by Tianjin investment Ben, and no longer pay cash to Tianfang development. After the completion of this transaction, the company still holds 57.39% equity of Geely building, which is still the holding subsidiary of the company.
This text is a result of machine translation.
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