Renewing the leading edge, Oceanwide Holdings sells overseas assets, Hony takes over $ 1.2 billion

Renewing the leading edge, Oceanwide Holdings sells overseas assets, Hony takes over $ 1.2 billion

Renewing the leading edge, Oceanwide Holdings sells overseas assets, Hony takes over $ 1.2 billion
On the evening of March 29, Asia Standard Holdings made another move in the land stripping operation. The announcement showed that Oceanwide Center LLC and 88 First Street SF LLC, wholly-owned subsidiaries of Asia Standard Holdings, and the non-affiliated third party Hony Capital Mezzanine Fund 2019 Limited ((Hereinafter referred to as “Hony”), the “Framework Agreement” signed, intends to transfer the relevant overseas assets owned by Hony on First Street and Mission Street in San Francisco, the United States, with a total transaction amount of 1.2 billion US dollars, of which 700 million US dollars at the time of deliveryPayment, the remaining 500 million US dollars as profitability funds.  At the same time, on the evening of March 29, Asia Standard Holdings had just concluded a transaction with SPF SAN FRANCISCO OWNER, LLC. The announcement showed that on January 21st, Oceanwide Center LLC and 88 First Street SF LLCAssociated with a third party, SPF SAN FRANCISCO OWNER, LLC signed the “Sale Agreement”.US $ 0.6 billion transfer of related overseas assets owned by First Street and Mission Street in San Francisco, USA to the counterparty.  In less than 3 months, the price of the transaction subject increased by 1.$ 9.4 billion.  The counterparty of Asia Standard Holdings is Hony Capital. According to the official website information, Hony Capital was established in 2003. It is a leading investment management institution in China and a member company of Legend Holdings.Hony Capital focuses on the Chinese market. Invested companies include CSPC, Zoomlion, Chengtou Holdings, Jinjiang, Xinao, Tianjing Biological, COFCO Capital, Zoomlion Sanitation, etc., with a total asset value of approximately 2.9 trillion yuan, about 860 billion yuan overall.  Oceanwide and Lenovo are also “old friends”. In September 2009, Oceanwide Group officially announced the launch of 27 at the press conference.The price of US $ 5.5 billion was transferred to a 29% stake in Lenovo Holdings. China Oceanwide became the third largest shareholder of Lenovo Holdings after Guoke Holdings and Lenovo Employee Stock Ownership.At that time, the transfer conditions were very harsh, and the number of eligible transferees was very limited. As a result, Lu Zhiqiang, who rarely showed up, appeared at the site of the media communication meeting, and said that this was the only landmark event in China’s ocean-wide development process.  The projects invested by the Asia Standard Group include Hony Capital II Shanghai (Shanghai) Investment Center (Limited Partnership), which was jointly established by Hony Capital Management (Tianjin) (Limited Partnership) and other investors in 2016. Ocean Standard Group invested through the company500 million yuan participated in the establishment.  For this overseas asset divestiture transaction, Asia Standard Holdings announced that this transaction is conducive to optimizing the company’s overseas asset layout and effectively mitigating the company’s overseas operating risks.Reporter Zhang Yanbin, editor, Sun Yong proofreading Li Ming