November 17, 2017 / 12:04 PM / in a year

BRIEF-Shanghai Industrial Urban Development Group ‍announces transfer of equity interests in property management cos

Nov 17 (Reuters) - Shanghai Industrial Urban Development Group Ltd:

* Announces transfer of equity interests in two property management companies

* Unit SUD to transfer entire equity interest in Shenda to Shangshi Property for RMB70 million​

* Shanghai Urban Development to transfer equity interest in SUD Commercial to Shanghai New Century for RMB17 million

* Co expects to record an estimated gain of about RMB34.2 million before taxation from Shenda equity transfer deal ​

* Expects to record estimated gain of about RMB5.8 million before taxation from SUD Commercial equity transfer deal​ Source text for Eikon: Further company coverage:

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