Beijing Maple changed foreign Bypass Centre "limitations on the" curve purchasers

If market news is true, Maple Center may be the masters of the future is a South Korean company recently despite a notice on the London Stock Exchange Second Board news did not cause too much attention to domestic investors, but the news is the decision of the Beijing East Central 5-A luxury complex fate, and would involve an A-share listing to the interests of the company.
London Stock Exchange high-growth market (AIM) of Chinese listed companies by real estate (CCP) (hereinafter referred to as "the Chinese") issued a notice, the company was early February will be held by the Mountain Breeze (Barbados) SRL ( "Mountain Breeze ") transfer of the company shares with a third party, and Mountain Breeze sole proprietorship in the Mainland of China in Beijing Tianhong Real Estate Development Company Limited (hereinafter referred to as" the industry Tianhong ") have the right to purchase the Maple Center.

The transaction involves the amount of 760 million yuan, the Chinese said that the company's profit will reach 3 billion, sources said, the third of a South Korean company. As we all know, Maple centre of the A-share listed companies Wuchang fish (600,275. SH) quality assets.
The resale Maple China under the Chinese Centre for the rights and interests of the notice of this transaction, the third party valuation of the Maple building for 2.5 billion yuan, the Chinese-owned Mountain Breeze stake in the company corresponding to the interests of valuation 7.6 billion. 90% of the amount in cash to settle, and the remaining 10% was placed in a joint account, the Tianhong industry access to the ownership of the Maple Center, upon the Chinese side into account. Maple was in the building industry Tianhong ownership for a period of 10 months.
Shui On Group of Hong Kong and recently contacted Ryan also confirmed the interests of the Centre for Maple transfer.
Maple reference centre of building area 124,000 square meters, third-party valuation of the project reached 20,161 yuan / square meters, the East Second Ring in Beijing this position, so it is still quite fair valuation.
Notice of the Chinese convey the company has not only in the interests of the transfer of Maple Center, conveys Tianhong industry in the future will be a Maple ownership of the building. Before publication of this information and the Maple Center Development Programme have some access.
Prior to the comprehensive public information Maple Centre, the Maple Center in Beijing from the real estate company ( "in Beijing") development, in 2006, Mountain Breeze companies as strategic investors is the introduction of Maple Center, through its wholly-owned subsidiary of Tianhong industry investment to the project orientation 1.11 billion yuan.
Mountain Breeze company from SOCAM and JP Morgan Chase 50% of the shareholding, but SOCAM holdings were transferred to the Chinese company.
According to media reports, Mountain Breeze company's investment funds in three payments, the agreement came into effect after the first payment of 409 million yuan; Maple Center under the progress of the project, not to pay more than 380 million yuan directly to the Maple Center project contractors for the second tranche of the third T in the remainder of the Beijing Municipal Construction Committee made the "completion of the record table" payments. Tianhong industry in the amount of the first payment after one year, Beijing should be in the Maple Center sales of not less than 1.238 billion yuan as an investment priority paid to the return of Tianhong industry, and ultimately to be in Beijing Maple Center sales of no less than 1.7 billion yuan as an investment priority paid to the return of Tianhong industry, more than in some Beijing Tianhong industry and in the ratio of 80:20 by the allocation. The contract was entered into force in June 2006 and began to perform.
With the notice and the Chinese media reported that may be overlooked is that the industry has the Maple Tianhong buildings pre-emption, and the right decision today to purchase third-party investment.
Buy property in accordance with the Chinese foreign curve and the third-party agreement, a third party has already indirectly owned 50% of Tianhong industry interests, and its objective is directed at the future of Tianhong industry has the ownership of Maple Center. If a third party to acquire the shares of JP Morgan Chase, then it will eventually become the masters of Maple.
If market news is true, Maple Center may be the masters of the future is a South Korean company. Such changes, as if the real estate market and strict "limits of the" inconsistent, but people can not accuse.
Insiders pointed out that, outside the equity transaction has become a "bypass the limitations on foreign purchasers of" an important way. Mountain Breeze because the company itself is an offshore companies, on the transfer of the property rights, regulatory policy is not subject to the Mainland.
In the transaction, in addition to the floor, in sight of the third-party companies, Ryan ties to China, the company more profitable results. According to the information notice, the company's investment for the Maple Center in the following 460 million yuan, a year and a half hours will be 3 billion profit, profit of more than 65%.
For uncompleted residential flats's investment earnings Ryan clearly has become one of the operation, the Chinese company is the assembly of all uncompleted residential flats in the mainland projects in the London-listed company. Hong Kong-listed Shui On Construction and Materials 40% owned by Chinese interests.
According to Ryan introduced, the sale of Mountain Breeze stake in the company after the Chinese in Beijing also has two projects, namely in the area of commercial Beijing Lufthansa Center St. yuan, the project formed by the two office buildings, the total gross floor area for the 42,400 square meters; Another project is located in a northern suburb of Beijing East of quality residential development projects Fengqiao villas, the project by more than 80 three to four-storey European villas.
Wuchang fish how much profit?
Beijing in the project, a little like Maple centre flats have such a complicated background. Apart from the well-known JP Morgan Chase, the London Stock Exchange listed company to have the rights and interests of China, the Shanghai Stock Exchange Wuchang fish also have their rights and interests.
In fact, Wuchang fish and the relationship between the Maple Center more attention. Wuchang fish because of the real estate restructuring, the injection of Maple Center is a very crucial, the company because of the location of Maple Beijing core centre, and investors were dubbed "Olympic property stocks" concept.
Maple things from the Group of the Wuchang fish start with the backdoor.
2002, the former British Forbes Regal Jian of the Beijing Maple control group was about 20% (after the shares changed to 17%) of the stake and become the second largest shareholder, and then became its largest shareholder. Maple owned by the Group to Beijing in the two shares was injected Wuchang fish, with the ultimate Wuchang fish in Beijing to 97 per cent of the equity. Beijing is in the center of Maple developers, Maple Center has also become an important source of profits Wuchang fish.
As Ryan and Morgan Chase to Beijing in the strategic investment and, therefore, Wuchang fish will be seen as a core resources with Beijing, the international background of the company capital. In Beijing with Shui On Group, JP Morgan Chase signed between the harsh contracts were ignored.
Even in accordance with the previously announced contracts, Maple sales center at least 17 billion in Tianhong return to the industry to 25 billion valuation, the amount of surplus only eight million, the distribution of profits in accordance with 8:2 programme in Beijing and distributed to only 6.4 billion after deducting the cost of running out.
China and the transfer of the more revealing of the industry Tianhong Maple Centre has the right to purchase, the purchase price is likely less than 25 million, remaining to Beijing in the case, also is the possibility of Wuchang fish is very few. (Wang Fang Jie)

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