The announcement shows that Suzhou Lujin, an indirect wholly-owned subsidiary of Lujin Infrastructure, intends to acquire 45% equity and shareholder loans of Minmei Real Estate through public bidding, and Minmei Real Estate is an indirect wholly-owned subsidiary of Minmetals Real Estate.
According to the announcement, the total transaction cost is estimated to be about $1.022 billion. This includes approximately $2.7 million for the estimated consideration of the 45% stake and approximately $1.019 billion for 45% of the shareholder loan for the acquisition of Minerals Properties. Upon confirmation of the successful bidder and completion of the conditional acquisition, Suzhou Lujin and Minmei Properties will own 45% and 55% of minjin Property respectively.
It is reported that Minjin Real Estate, a project company, currently owns the residential plot no. 2021-WG-49 in Suzhou city, which covers an area of about 55,900 square meters and has a plot ratio of no more than 2.0. Minmei purchased the right to use the land for about 2.197 billion yuan in a public auction in September. Subsequently, on October 12, the land use rights of the site were transferred from Minmei To Minjin Properties.
