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Australian Fire Company


SINGAPORE China safety & Fire Co Ltd (600654.SS) intends to get protection possessions in Australia and Thailand for over $150 million, the most recent exemplory instance of Chinese businesses growing offshore through purchases.

Chinese organizations happen actively making international purchases in sectors including property, customer, monetary and commodities.

China's Anbang Insurance is leading a bunch which agreed upon Friday purchase Starwood Hotels & Resorts in a $13.16 billion price.

China protection & Fire, which offers protection items, intends to spend A$157.5 million ($120.3 million) purchasing safety associated assets owned by Securecorp Australian Continent Pty Ltd and eWitness Nominees Pty Ltd, it stated in a filing to your Shanghai stock market on Friday.

Its Hong Kong subsidiary will purchase Impact triumph Limited and United Premier Overseas restricted for 1.3 billion Thai baht ($37.3 million).

The purchase will indirectly enable Asia Security & Fire to possess stakes in Guardforce safety Services (Thailand) Co Ltd, Guardforce Aviation Services Co Ltd, Guardforce Aviation protection providers Co Ltd and Guardforce Holdings (Thailand) Ltd.

China protection & Fire in addition intends to raise to 5 billion yuan ($770 million) in an exclusive keeping of shares to greatly help fund the purchases, it said in a separate filing.

The remainder proceeds would-be used for security-related items and repaying loans.

Trading with its Shanghai-listed stocks will stay suspended as they have been since mid-December once they had been stopped pending an announcement through the organization.



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