Royale Home (HKG:1198) has identified Lvshang Technology as the successful bidder for a 25% stake in Dongma (Guangzhou Bonded Area) Grease Chemical Engineering, held by its subsidiary Yuyuan Real Estate, a Thursday Hong Kong bourse filing said.
Lvshang Technology was the sole bidder in the tender process, with a final bidding price of 60 million yuan, which matched the minimum tender price set by Royale Home.
Yuyuan Real Estate first disclosed its plan to sell the stake in February through a public tender.
The parties are yet to enter into a formal agreement regarding the disposal of chemical product manufacturer Dongma.
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