HK Parkview (HKG:0207): COFCO proceeds to offer after acq


The Hong Kong Parkview Group Limited (HKG:0207) announced that all the conditions to the share purchase agreement have been fulfilled and completion of the acquisition of the 393.674 million shares by offeror Achieve Bloom Limited took place on 23 July 2012.

Immediately after completion, the offeror and parties acting in concert with it own in aggregate 393.674 million shares, representing 73.5% of the entire issued share capital of Hong Kong Parkview.

Pursuant to the takeovers code, the offeror is required to make a mandatory unconditional cash offer to acquire all issued shares of Hong Kong Parkview at an offer price of HK$0.92 per offer share.

The offeror is owned by COFCO (Hong Kong) Limited, which is owned by COFCO Corporation.

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