Logo of Phnom Penh Post newspaper Phnom Penh Post - Hong Kong firm pens $9.7M subsidiary sale

Hong Kong firm pens $9.7M subsidiary sale

Hong Kong firm pens $9.7M subsidiary sale

Hong Kong-listed firm Birmingham Sports Holdings Ltd announced it has entered into a $9.7 million sales purchase agreement for its equity shares in its wholly owned subsidiary Orchard Gold, one of the developers of the One Park project in Shukaku’s Phnom Penh City Centre, according to a company release last Friday.

Pursuant to the deal, Orchard Gold has conditionally agreed to purchase three indirectly wholly owned subsidiaries and holding companies for Birmingham Sports – Celestial Fame, Deep Blue and Ever Depot – for a total of $33.6 million.

These companies had previously entered into sale, leasing and construction agreements with Beijing-based Graticity Real Estate Development, the lead developer of the massive One Park project.

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