RTTNews | Sep 26, 2021 10:23PM EDT

22:23 Sunday, September 26, 2021 (RTTNews.com) - MINISO Group Holding Limited (MNSO) said that it has reached a definitive agreement with YGF MC Limited, a company jointly controlled by the company's controlling shareholders, Guofu Ye and Yunyun Yang, to acquire the remaining 80% equity stake in YGF Investment V Limited, a joint venture between YGF MC and the Company to establish MINISO's new headquarters building. The total consideration of the transaction is estimated to be approximately RMB 700.4 million.

Upon closing of the proposed deal, the company will hold 100% equity interests in YGF Investment.

Closing of the transaction is estimated to take place in the second quarter of the Company's 2022 fiscal year.

The new headquarters building, with about 104 thousand square meters in gross floor area, is estimated to be completed by 2025.

Read the original article on RTTNews ( https://www.rttnews.com/3228216/miniso-acquires-remaining-stake-in-jv-for-its-headquarters-building-project.aspx)

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