New World's NWS says to sell HK logistics centre for $485 mln

June 21, 2016 1:05 AM

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HONG KONG, June 21 Hong Kong's NWS Holdings Ltd , a road and port operator, said it would sell its logistics centre to a unit of China Resources Enterprise Ltd for HK$3.75 billion ($485 million) after a strategic review of its assets.

NWS, a unit of property developer New World Development Co Ltd, said the deal will generate cash resources for working capital and is expected to be completed on August 31 .

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