Gree Real Estate: Controlling shareholder change approved

Gree Real Estate (SSE:600185) announced that its controlling shareholder is set to change as Zhuhai SASAC (State-owned Assets Supervision and Administration Commission) transfers its 100% stake in Zhuhai Investment Holdings Co., Ltd. to Zhuhai Huafa Group. The transfer, approved by Zhuhai SASAC, will result in Huafa indirectly controlling 44.95% of Gree Real Estate's shares. The transfer doesn't alter Gree Real Estate's controlling entity or actual controller. Gree Real Estate's announcement confirms that the equity transfer has completed the necessary industrial and commercial registration changes. The acquisition qualifies for an exemption from a full tender offer due to the nature of the state-owned asset restructuring, per securities regulations. Zhuhai Huafa Group commits to disclosing further changes in shareholdings, if any, in compliance with regulations.