BRIEF-Road King Infrastructure says unit to form JV to develop residential properties

April 24 (Reuters) - Road King Infrastructure Ltd

:

* Unit and Beijing Ronghui entered into cooperation

framework agreement for formation of jv to develop residential

properties

* Beijing Ronghui won bid for land use right of land on 20

april 2017 for a consideration of rmb1.89 billion

* Equity interests of jv will be held as to 49% by Guangzhou

Junjie and as to 51% by Beijing Ronghui

* Capital contributed by Guangzhou Junjie and Beijing

Ronghui into joint venture will be rmb49 million & rmb51 million

respectively

* Guangzhou Junjie & Beijing Ronghui also agree to provide

shareholders' loan to jv on a pro rata basis of up to rmb2,300

million

* Guangzhou Junjie & Beijing Ronghui to provide

shareholders' loan to pay land premium of land & finance

operating cost of JV

Source text : (http://bit.ly/2oDTJdT)

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