Societe Generale (09916) announced that on July 5, 2023, the buyer (Henan Industrial Internet of things Management Technology Co., Ltd., an indirect wholly-owned subsidiary of the company) intends to acquire the entire issued share capital of the target company (Henan Zhengshang Real Estate Co., Ltd.) from the seller (Henan Zhengshang Real Estate Co., Ltd.) at a consideration of RMB 95 million. In accordance with the terms and conditions of the agreement, the consideration will be paid by the buyer in cash within six months from the date of the agreement.
It is reported that the target company is a real estate development company registered in China. Upon the date and completion of this announcement, the Target Company will own a property under development located in Zhengzhou City, Henan Province, China.