BANGKADI, MUANG, PATHUTHAMI, THAILAND -- SVI Public Co. will sell its China subsidiary to a Shenzhen developer for HK$50,000 ($6,500).

SVI China Ltd. had been earmarked for a shutdown dating to an SVI board decision in October 2013. The buyer is Apex City Development Ltd.

The firm said the sale would have "no significant impact" on the company’s financial results.

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