Sino-Ocean Group reacquires assets for RMB323m loan

Sino-Ocean Group will reacquire 2,684 parking spaces from its 63.82%-owned subsidiary Sino-Ocean Service for RMB323.2 million, the same price paid when originally transferred in 2023.

The transaction will be settled through a 120-month loan from the subsidiary to the parent company at 2% annual interest, with payment deferred for the first 48 months. Sino-Ocean Group will guarantee the loan.

The internal restructuring gives the group a net 36.18% additional interest in the parking assets.