SHANGHAI , January 28 , SinoCast -- Shenzhen Investment Limited announces that it takes over Shenzhen Biological Agriculture from Shum Yip Group , controlling shareholder, a CNY 5.62 billion . Half of the consideration will be paid by issuing nearly 1.1 billion shares at HKD 3.286 each to Shum Yip; HKD 3.07 billion will be paid in cash; remaining HKD 540 million will be paid in phases. The target owns and operates 12 property developments and hold investment properties in Shenzhen ; total construction areas of the properties reach 384,800 square meters.
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