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Sunday, August 12, 2007

Dragon Ukrainian Properties & Development Buys 38 % Of Developer Henryland For USD 12 mln

LONDON (Thomson Financial)

Dragon Ukrainian Properties & Development PLC (DUPD) has bought a 38 % stake of Henryland Group Ltd, a British Virgin Islands retail developer, for USD 12 mln. Under this agreement, the company has entered into an option in favour of Dragon Capital Holding Ltd (DCH,) meaning that DCH may be become entitled to acquire up to 900,000 shares in Henryland, at USD 0.01 per share from DUPD. Following the completion of the transaction, DCH will own 11.3 % of Henryland and 50.7 % will be owned by third party investors.

Sourse - Sharewatch

If anybody have additional info regarding this deal, please post the comments.