socialmedian: Digital China Software and SJI Will Form a Strategic Partnership to Jointly Develop Businesses in China and Japan

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Digital China Software and SJI Will Form a Strategic Partnership to Jointly Develop Businesses in China and Japan

Source: PR Newswire: Technology

Nov 04, 2009

Summary

HONG KONG, Nov. 4 /PRNewswire-Asia/ -- Digital China Holdings Limited
("Digital China" or the "Group"; Stock Code: 00861.HK), a leading IT services
provider in China, announced that its non-wholly owned subsidiary Digital
China Software (BVI) Limited ("Digital China Software") and King Tech Service
HK Limited ("King Tech"), in which the Group owns a 16.1% interest, will
acquire 23.65% and 6.96% equity interest respectively in the Japan-listed IT
company SJI within this year. The consideration for the transaction is JPY
2,805 million (equivalent to about HK$242 million). Moreover, both companies
will acquire SJI share options which will allow Digital China Software and
King Tech to raise their equity interests in SJI to 30.81% and 10.07%
respectively from 16 June 2010 to 25 December 2011. When the share options are
fully converted into SJI shares, Digital China Software has to pay the amount
of JPY1,665 million (equivalent to about HK$144 million) for the equity
interest. Meanwhile, Digital China Software agreed to transfer the entire
interest of its stake in DGT Informatio ...Read the full article

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