HONG KONG, Nov 2, 2020 - (ACN Newswire) - Tianjin Development Holdings Limited ("Tianjin Development", stock code: 882.HK) has announced that an internal integration between its intermediate controlling shareholder, Tianjin Tsinlien Investment Holdings Co., Ltd. ("Tsinlien Investment Holdings") and Tianjin TEDA Investment Holding Co., Ltd. ("TEDA Holding") is to be implemented.
Tianjin Development, said, "In order to implement the three-year action plan for state-owned enterprise reform, the Tianjin Government will further strengthen state-owned capital so as to build up a strong reputation for the reform and growth of Tianjin's state-owned enterprises, as well as implement multiple measures to enhance their overall strengths. Upon completion of the integration, TEDA Holding will directly hold 100% shareholding interest in Tsinlien Investment Holdings. However, Tsinlien Investment Holdings' shareholding interest in Tianjin Development will not be affected. The ultimate control over Tsinlien Investment Holdings and Tianjin Development remains with the Tianjin Government."
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source http://www.acnnewswire.com/press-release/english/62421/