Xi'An People'S Livelihood Acquisition Of Zheng Yuan And Other Department Stores Assets

Xi'an people's livelihood announced on the evening of 26

The plan is to purchase the 67.59% equity of Xing Zheng Yuan shopping center and the real estate of the Mulam city pedestrian street by issuing shares and paying cash. The total paction price is 1 billion 863 million yuan, and the matching funds are raised.

After the completion of the paction, Xi'an's people's livelihood will hold 100% stake in the shopping center of Xing Zheng Yuan, and solve the competition problem with the shopping center of Xing Zheng Yuan thoroughly.

Company stock resumed in September 29th.

According to the plan, Hainan Airlines's 67.59% stake in Xing Zheng Yuan shopping center and the real estate of the pedestrian street in the city of mule City, Xing Zheng Yuan, initially agreed on the paction price of 1 billion 103 million yuan and 760 million yuan respectively.

Among them, the people's livelihood of Xi'an was paid in cash by Hainan Airlines in the form of 600 million yuan, 503 million yuan was issued by issuing shares, 108 million 626 thousand and 825 shares were issued, 380 million yuan was paid in cash by Xing Zheng Yuan real estate, 380 million yuan was issued in the form of shares, 82 million 73 thousand and 434 shares were issued, and the asset price for issuing shares was 4.63 yuan / share.

At the same time, the people's livelihood of Xi'an will not be more than 10 specific investors, raising 4.17 yuan / share non-public issuance of 148 million 681 thousand and 55 shares to support matching funds. The total amount of matching funds is not expected to exceed 620 million yuan, which is used to pay the cash consideration of the paction.

The main business of Xing Zheng Yuan shopping center is

Retail is located in Xi'an bell tower core business district Mulam city commercial pedestrian street, is a shopping oriented, catering, entertainment, leisure, service as one of the commercial complex.

In August 2009, Hainan Airlines obtained the controlling right of the Xing Zheng Yuan shopping center and entrusted it to the people's livelihood management of Xi'an.

In the 2013 and 1-6 months of 2014, the net profit of Xing Zheng Yuan shopping center was 26 million 894 thousand and 800 yuan and 14 million 532 thousand yuan respectively.

In October 2013, Xi'an people's livelihood had acquired 32.41% stake in Xing Zheng Yuan shopping center, and the corresponding paction price was 500 million yuan.

Mula City Pedestrian Street property is located in Xi'an mula commercial pedestrian street west section of the 1-2 section of the west, a total of 47 properties, construction area of 11782.84 square meters.

As of June 30, 2014, the estimated value of real estate in Mulam city pedestrian street was 721 million 714 thousand and 100 yuan, and the estimated increment rate was 14.49%.

Xi'an people's livelihood said that after the completion of the paction, the company will own a property department store in the clock tower business district of Xi'an, operating three department stores, with a total business area of 114 thousand and 900 square meters, an increase of 117.20% compared to the paction, which will greatly improve the company's Xi'an bell tower business district.

To expand the business area of department stores.