Airport Corp plans to sell 80% equity of Tianyuan Construction to divest its construction engineering business
Airport Corp announced plans to sell 80% of the equity of its controlling subsidiary Tianyuan Construction to Beijing Airport Economic Development Co., Ltd. After the transaction is completed, it will no longer hold this equity, and its main business will no longer include construction engineering. This transaction will help improve the company's asset quality and enhance its sustainable operating capacity and profitability
According to the Zhitong Finance APP, Airport Corp (600463.SH) announced that the company intends to sell 80% of the equity of its controlling subsidiary Beijing Tianyuan Construction Engineering Co., Ltd. (referred to as "Tianyuan Construction") to Beijing Airport Economic Development Co., Ltd. (referred to as "Airport Development"). After the completion of this transaction, the company will no longer hold any equity in Tianyuan Construction, and the transaction price has not yet been determined. After the transaction is completed, the company's main business segment will no longer include construction engineering services.
The announcement stated that through this transaction, the company will dispose of the relevant assets and liabilities of Tianyuan Construction, which is beneficial for improving the company's asset quality and enhancing its sustainable operating capability and profitability
