Major Disposal – Blue River Holdings Limited
26 January 2023
We are honoured to have acted as the independent professional valuer for Blue River Holdings Limited (498.hk) in respect of its major disposal of Profit Tycoon Holdings Limited and its subsidiaries (the “Target Group”). We have conducted business valuation for 100% of equity interest in the Target Group (the “Business Valuation”) as well as property valuation in respect of the properties held by the Target Group (the “Property Valuation”). The Business Valuation and Property Valuation reports were appended in the circular published today.
The Target Group is principally engaged in (i) development, investment and sale of properties; (ii) development of a sport recreation project; and (iii) exploitation of hot springs and development of recreational facilities at Xiao Yangkou. Upon disposal of the Target Group, the company would be engaged in the ports and logistics business carried out by Hubei Minsheng Liquefied Petroleum Gas Limited (‘‘Minsheng Gas’’). Minsheng Gas owns and operates the largest liquefied petroleum gas (‘‘LPG’’) storage-tank farm and a river terminal in midstream of Yangtze River, and has one LPG and four compressed natural gas automotive fueling stations in Wuhan City, the PRC.
We wish the company continued success in its corporate development.
Details of the major disposal: