Vanke says acquisition of Shenzhen Construction stake is still under negotiation

There has been a glorious history of Shenzhen Construction (Group) Co., Ltd. has again become the focus of attention, there is news that the construction group general manager of private acquisition of employee equity, there is also news that Vanke and Ping An trust bid for its stake.　　Shenzhen Vanke Real Estate Co., Ltd. 25th response said that the construction group has been the legal shareholders of the communication, the current issue in the regular negotiation process of bargaining and terms, has not reached any contract, the two sides did not have any intention to terminate the consultation. Proposed acquisition of employee equity Shenzhen Vanke Real Estate Co., Ltd. is a subsidiary of Vanke, the first and third major shareholders in the construction group are interested in the transfer of their holdings of the construction group, the interest in the acquisition of relevant equity interests.　　Vanke said that as a part of the construction group of the intent of the acquirer, and other potential buyers, like to decide and put forward their own acceptable prices and conditions of acquisition rights. Shenzhen Construction Group was founded in 1983 by the 20,000 Construction Engineering Corps to transfer to Shenzhen, when the state-owned enterprises. The construction group was restructured in 2007 by Shenzhen Investment Holdings Limited, which retained 29% per cent of the state-owned stake, while another 71% per cent of the state-owned shares were held by 186 employees. All shareholding staff entrusted to the construction group trade unions and home property trade union corporate entities in the name of business registration.　　Employee shares need to be charged to deep investment in the transfer of equity 520 million yuan, due to staff and trade unions can not afford to pay, there are still 369 million yuan in arrears.　　At present, the Shenzhen Construction Group has a total of three shareholders: Shenzhen Construction (Group) Co., Ltd. Trade union committee, Shenzhen Investment Holdings Limited and Shenzhen construction Home Property Services Limited trade union Committee, its shareholding ratio is 51%, 29% and 20% respectively.　　It is understood that the Shenzhen construction group to real estate development as the leading industry, construction general contracting for the basic industry, property management as a supporting industry, with building special qualifications, Guangdong Province within the scope of only 3 companies have this qualification. Ping An denied participation in the bid for Peace Trust 25th also to deny the acquisition matters. Ping An trust related officials said that before indeed with the Shenzhen construction Group had an early contact with the acquisition of its stake has also been interested, but for a variety of reasons after the stop.　　The media burst the Shenzhen construction group general manager privately acquires the employee equity, also has no relation with the Ping an trust. and Vanke and Shenzhen Construction group cooperation has already begun, 2009 Shenzhen Vanke and Shenzhen Construction Group cooperation in the development of Longgang Center City in the Golden Qin Garden project, building area of about 100,000 square meters, this year has been in the market.　　Golden Qin Garden by the construction group to provide land, as a cooperative developer and contractor to participate in the Golden Qin Garden project, with a certain percentage of the equity.　　In June this year, in order to keep the "General contractor special Qualification", Shenzhen Construction group decision makers to introduce Vanke company to carry out the acquisition, and this matter organized a shareholding staff to vote, more than 90% of the shareholders agreed to the ownership of the shares transferred to Vanke. By September 30, however, many employees of the construction group received a call from General manager Wang Ji., said it is willing to buy 4.5 yuan per share of employees holding shares, can sign an internal equity transfer agreement. Some employees said that the company's decision-making in June this year to discuss with the Shenzhen Vanke acquisition matters, worried that the general manager privately acquired influence construction group of the way out, but also questioned the private acquisition of billions of sources of funds, behind or other institutions involved.