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OUE To Increase Shareholding In Gemdale Properties and Investment Corporation

Shares Investment

OUE has announced that its indirect associated company, OUE Lippo, has entered into three separate share purchase agreements to acquire a total of 1.2 billion ordinary shares of Gemdale Properties and Investment Corporation (GPI).

The consideration is for HK$0.553 per share, totalling HK$641.5 million. GPI is a real estate developer principally engaged in property investment, development and management of residential, commercial and business park projects in Greater China. OUE currently holds 50 percent of the issued and paid-up share capital of OUE Lippo and the balance 50 percent is held by Epoch Thrive. OUE Lippo currently holds 19.2 percent of the shares of GPI, and will hold a resultant 26.8 percent following completion of the purchases.



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