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FINWIRES

New Hope Service to Raise Stake in Property Management Unit

-- New Hope Service (HKG:3658) agreed to acquire a further 45.5% stake in Chengdu Mingyu Global Business Management for 74.8 million yuan, according to a Friday Hong Kong bourse filing.

Upon completion, the company's interest in Chengdu Mingyu Global will increase to 96.5% from 51%.

The consideration will be settled through a debt set-off arrangement, the filing said.

Chengdu Mingyu Global provides property management services in Sichuan, and the deal is expected to strengthen operational control and align the business more closely with the group's strategy.

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