Shengjie enterprise (06090. HK) announced that on May 19, 2022 (UK time), the buyer (i.e. the indirect wholly-owned subsidiary of the company) entered into a contract with the seller for the proposed acquisition of the property. The relevant purchase price is £ 10.445 million (equivalent to about HK $115.6 million or s $17.95 million) (including value-added tax (if any), but excluding stamp duty and other costs related to the proposed acquisition), which must be paid in cash. The proposed acquisition will be funded by the group’s internal resources and external bank financing.
The property is a freehold property called the orbital, located in 6 ilkeston Road, nottinghamng7 3Ge in the UK, and will be renamed Deyou Obito school after the completion of the proposed acquisition. The property will be managed together with the group’s two existing special student apartment assets in Nottingham, namely Deyou castle gate school and Deyou achier school, to create operational synergies. The property is located in canning circle, which is within walking distance to Nottingham Trent University and easily accessible to Nottingham University. The market potential of specially built student apartments in Nottingham is huge. The University of Nottingham, a member of Russell university group of British University Alliance, is the core, attached to one of the largest universities in the UK – Nottingham Trent University. The property is equipped with diversified retail and catering restaurants, as well as a number of scenic spots and entertainment places, such as the old market square, Nottingham Castle and Museum, Royal Theater, the park tennis club and Nottingham theater.
The board further announced that coipl had established a wholly-owned subsidiary, the buyer, on the proposed acquisition.
