04:51 AM EST, 12/17/2021 (MT Newswires) -- Huarong International Financial (HKG:0993) agreed to sell three of its subsidiaries to Dong Yin Development for $41.9 million.
The subsidiaries, namely Triple Ocean, True Elegant and Jade Coronet, are all investment holding firms.
Huarong International Financial said the disposal will allow the company to reallocate its financial and human resources to other existing businesses and improve the group's financial position.
The transaction is expected to complete on Dec. 20, according to a Thursday filing.
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