Sichuan Road & Bridge exits private equity fund

Sichuan Road & Bridge Construction Group Co., Ltd. (SSE:600039) announced that its wholly-owned subsidiary, Sichuan Highway & Bridge Construction Group, has exited its investment in a private equity fund focused on a highway project in Guangxi. The initial investment was made in 2020 to secure the general contracting rights for a section of the Guangxi Tian'e to Beihai Highway. Sichuan Highway & Bridge subscribed to 11.58% of the fund, amounting to CNY 273.84 million. The exit was facilitated through an agreement with Guangxi Jiaosheng Xinguang United Investment Partnership, which will acquire the shares. Sichuan Road & Bridge will receive CNY 239.92 million after cost deductions from Guangxi Jiaosheng. This exit will not significantly impact the company's financials or operations, according to the announcement.