Reuters logo
BRIEF-ChinaCache International says to sell data center assets
March 6, 2017 / 2:01 PM / 9 months ago

BRIEF-ChinaCache International says to sell data center assets

March 6 (Reuters) - ChinaCache International Holdings Ltd :

* Entered agreements to sell 79.0% interest of ChinaCache Xin Run Technology to Tianjin Shuishan Technology, Shanghai Qiaoyong, Tianjin Dingsheng

* ChinaCache announces definitive agreements to sell data center assets

* Deal for a total consideration of RMB221.2 million in cash before fees and expenses

* Tianjin Shuishan, Shanghai Qiaoyong and Tianjin Dingsheng agree to buy 47.67%, 26.33% and 5.0%, in Xin Run

* ChinaCache plans to apply proceeds from transaction to research and development, working capital and other purposes

* Company has terminated agreement to sell 60.0% of Xin Run as disclosed in its press release on December 2, 2015

* Tianjin Shuishan will obtain a loan from Shanghai Qiaoyong or its affiliates to finance its acquisition

* After completion of transaction, ChinaCache will, through a subsidiary, own 20.0% equity interest of Xin Run Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below