SEO Version
FORTERRA
ANNUAL REPORT 2013
NOTES TO THE
FINANCIAL STATEMENTS
97
6
SUBSIDIARIES
Details of significant subsidiaries are as follows:
Name of subsidiaries
Country of
incorporation
Effective
interest held
2013
2012
%
%
Indirect subsidiaries
*
Shanghai Hua Tian Property Development
Co., Ltd
PRC
100
100
*
Shanghai Central Land Estate Co., Ltd
PRC
–
100
*
Shanghai Vision Honest Real Estate
Development Co., Ltd
PRC
100
100
*
Beijing Dream Land Industrial Development
Co., Ltd
PRC
100
100
*
Qingdao Sanyang Real Estate Co., Ltd
PRC
55
55
*
Shanghai Haici Real Estate Co. Ltd
PRC
100
100
*
Audited by other member firms of KPMG International
On 9 April 2013, CREO (Shanghai Central Plaza) Limited (“CSCP”), a wholly-owned subsidiary
of the Trust, entered into a conditional share purchase agreement (“SPA”) with Central Plaza
Holding Company Ltd, a non-related party affiliated with an investment fund managed by an
affiliate of the Carlyle Group, for the sale of CSCP’s interest in all the allotted and issued shares
in the share capital of Central Land Estate Limited, a Hong Kong domiciled entity wholly-owned
by the Group, which owned the Central Plaza property for a consideration of US$196.5 million
(equivalent to approximately $249.1 million). The Transaction was approved by the Trust’s
unitholders at the extraordinary general meeting held on 10 May 2013 (the “Transaction”) and was
completed with all conditions precedent fulfilled on 23 May 2013. See Note 19 for the financial
effects of the Transaction.
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