Computershare pays $270.3m to take over Hong Kong unit

Computershare pays $270.3m to take over Hong Kong unit

Australian share registry firm Computershare is buying the 30% stake it doesn't already own in it's Hong Kong business from Hong Kong Exchanges and Clearing Limited (HKEx) for $270,320,130.

HKEx says the sale of its interest in Computershare Hong Kong Investor Services Limited (CHIS) will result in a profit of about $220 million.

The Hong Kong firm acquired its stake in CHIS in 2002 through the merger of its share registration subsidiary, and Computershare's business Central Registration Hong Kong Limited. HKEx acquired a further six per cent stake in CHIS in 2005.

Ronald Arculli, chairman, HKEx, says the transaction, which will be completed on 3 April 2007, represents "a good opportunity for HKEx to realise a gain on its interest in CHIS".

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