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2021-12-23 13:40
12:36 AM EST, 12/23/2021 (MT Newswires) -- Excellence Commercial Property & Facilities Management Group (HKG:6989) has completed the divestment of its property management-focused subsidiary Shenzhen Excellence Operation Management for 350 million yuan ($54.9 million).
Excellence Commercial Property held 95% of Shenzhen Excellence through its unit Dongrunze Investment and the remaining 5% through its other subsidiary Excellence Property Management.
Proceeds from the disposal will be used for general working capital and potential acquisitions and investments, the property development services provider said in a Tuesday filing.