(15 November 2021, Hong Kong) NWS Holdings Limited (“NWS” or the “Group”; HK stock code:659) announces today that it completed the disposal of its entire 42% equity interests in SUEZ NWS Limited (“SNL”). The cash consideration of HK$4,173 million was paid. The gain arising from the completion of the SNL disposal is estimated to be approximately HK$269 million and will be recognized in the financial year ending 30 June 2022. The Group also expects to receive by 15 December 2021 a dividend of approximately HK$121 million declared by SNL.
NWS recouped HK$6,533 million from the disposals of its entire 42% equity interests in SNL and its entire 12.55% effective interests in Chongqing Derun Environment Company Limited*, the two major assets in Environment segment.
Eric Ma, Chief Executive Officer of NWS said, “The optimization of our business portfolio enables the Group to streamline business structures and articulate a lucid corporate strategy. The Group is confident about the prospects of the Mainland and Hong Kong. With proceeds from the disposals, the Group intends to capture further investment opportunities in areas such as toll roads, modern logistics and insurance to create more value for our stakeholders.”
*The transaction was completed in May 2021
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NWS Holdings Limited (Hong Kong Stock Code: 659), as the diversified industries flagship of New World Development Company Limited (Hong Kong Stock Code: 17), invests and operates a wide range of businesses predominantly in Hong Kong and the Mainland. Our core business includes toll roads, commercial aircraft leasing, construction and insurance, while we also manage a strategic portfolio spanning sectors from logistics to facilities management.
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