Cofco Group Real Estate three brothers grab food soon

To date, Cofco has injected capital into Hong Kong Shell Corporation (02070). HK) Boots finally landed. The company announced yesterday that it would buy target companies and shareholder loans from the parent company Cofco, a total cost of HK $14.167 billion. Financial profit Po, the current savings rate increased 1000% after the completion of the injection, overseas Chinese enterprises will be officially renamed as "Cofco," the Cofco will be part of its commercial quality assets into overseas Chinese blessing, including the core assets "Yue City" and other projects, the future of Cofco will become the parent company's commercial platform.　　In addition to the A-share listing of Cofco property (market, interrogation) and Cofco home, the future Cofco Group will undoubtedly present three real estate platform grab food situation. Uncertainty of capital injection under the capital injection scheme, the overseas Chinese enterprises will acquire a stake in the target company of the commercial property held by the parent company Cofco Group, the property portfolio includes two complex projects in Chengdu and Beijing, two commercial property projects in Hong Kong and Shanghai, four hotel projects in Beijing, Nanchang and Suzhou, a comprehensive tourism project in Sanya and Shanghai　　, Sanya and Chengdu, three projects with minority interests. Data show that the total cost of the above assets reached HK $14.167 billion. To carry out the acquisition, the overseas Chinese enterprises proposed that the sale price should not be less than HK $2, placing no more than about 2.32 billion shares.　　The company said that if the placement had not been completed when the acquisition was completed, it would issue about 123 million shares of the price, and about 6.961 billion shares of convertible preferred shares to pay the purchase price. The infusion of huge assets, based on HK $14.167 billion, led to a reversal of the takeover by Cofco. According to the law of "reverse takeover" in Hong Kong, in the 24 months after the buyer becomes a shareholder with more than 30% common shares, any of the cumulative injected assets is higher than 100% of any of the five test indices, such as earnings, market capitalisation, assets, profits and equity, which constitute a very significant transaction,　　may be approved on the basis of the IPO application criteria. According to the provisions, the overseas Chinese enterprises will be regarded as an IPO applicant, so the acquisition of overseas Chinese enterprises, the company must be approved by the Hong Kong Listing Committee. If the IPO is not approved, the takeover plan will be dashed.　　Cofco has only been waiting for one year since the backdoor of Hong Kong since the end of last year. Late or continuous infusion of asset consolidation is still walking along the path of asset integration.　　It is understood that the overseas Chinese blessing announced a series of new appointments at the end of last month, most of whom have participated in the "Yue Cheng" project of Cofco's commercial brand, which means that overseas Chinese will become the market platform for the development of commercial real estate by Cofco. "Cofco has injected a number of core assets, including Cofco Plaza in Chengdu and Beijing, plus the previous commercial operations team's presence in overseas Chinese, it is clear that the future of COFCO will be injected into other complex and commercial projects as a commercial platform."　　An internal-housing analyst told reporters. In addition, Cofco Group's two other platforms in China grain real estate and Cofcoproperty is the main business of real estate, but the former mainly residential, and has been listed in Shenzhen, the latter is mainly engaged in commercial real estate.　　According to the group's website, there are about 10 "Yue Cheng" projects in Beijing, Shanghai, Tianjin and Shenyang, among which 5 have already opened, involving about 1.75 million square metres of gross floor and the remaining to be opened for 2.93 million square metres. It is reported that each of Cofco's "Big Yue City" project is located in the city's most core area, involving shopping malls, apartments or office buildings, which used for rental of the floor generally accounted for about half of the total project.　　Public information shows that in 2007, the opening of the Beijing Xidan Grand Hyatt City, is the first commercial real estate projects, the current daily average of more than 200,000 people.　　Three real estate platform competition once the capital injection is completed, Cofco will have a "one mother and three sons" situation, and three property platforms will look to Cofco's commercial property. The real estate business of Cofco is complex, which was previously divided into two platforms of Cofco and Cofco Estates, but in fact, there are still many business intersections.　　For example, in Shenyang Yue City These projects, there is a COFCO home to export the big Yue City commercial real estate brand, but by the development of Cofco property and possession of the phenomenon.　　And for a long time, the core assets of "Yue City" has not been fully owned by the commercial real estate platform Cofco property, such as the injection of Chinese enterprises in Chengdu Yue City is not a Cofco home, and Yantai, Beijing Chaoyang North Road, Beijing Xidan, Beijing, the city of the stability of the great Yue Town property rights are vested in the Cofco home. "Cofco This urgent injection, how much with its real estate platform business structure is not clear, before, the provisions of the grain in the residential development of the big Yue City property rights are not part of the Cofco home, so the distinction seems a bit far-fetched."　　"an analyst at UBS Securities, an internal housing unit, said. "In fact, Cofco's residential real estate platform in the grain real estate also has a long coveted business." The analyst said.　　It is reported that as early as in the 2011 Annual report, Cofco Real estate in the future development of strategic objectives and strategic positioning of the description, said, Cofco has been clear in the industry regulation will not relax the situation, seize commercial real estate development opportunities, in accordance with strategic deployment, timing development to big Yue City as the brand of the full service chain City complex. "The various assets and business of Cofco Group are so numerous and complex that it is not easy to integrate and operate." Predictably, in the future on commercial real estate, the group will also comb three real estate platforms. said the person.