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FE CONSORT INTL Signs Heads of Agreement with CTFE & The Star for Australian Projects
Recommend 22 Positive 5 Negative 21 |
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FE CONSORT INTL (00035.HK) entered into a heads of agreement (HOA) with Chow Tai Fook Enterprises (CTFE) and The Star Entertainment Group Limited in relation to their joint developments at QWB Project and the Gold Coast Project, and certain hotel and car park assets currently wholly owned either outright by The Star, or in partnership with the Company, in Brisbane, Queensland, Australia, according to FE CONSORT INTL's announcement. The Company and CTFE (the JV Partners) will undertake an asset swap with The Star, which will dispose of its 50% stapled equity interest in the QWB Project either by way of buyback or capital reduction or such other means as agreed between The Star and the JV Partners so that, at completion, the JV Partners will jointly own 100% of the QWB Project. AAStocks Financial News |
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