Yuzhou Properties (01628) said it agreed to acquire a 27.8% equity interest in Yuzhou Properties (Hefei) Eastern Town Co., Ltd. from Pingan Trust at Rmb803.47 million.
Upon completion, Yuzhou Properties (Hefei) Eastern Town will become an indirect wholly-owned subsidiary of Yuzhou Properties.
Yuzhou Properties (Hefei) Eastern Town is principally engaged in the property development project in Feidong County, Hefei, Anhui Province, the PRC, which has a site area of about 279,535 square metres and will be developed into a residential complex. At present, the project is still under construction. The acquisition will enable the Group to achieve greater economic efficiency and control of the development of the project, and to fully optimize the return and benefit from the future growth and success of the project.
18/11/2015 10:49
Yuzhou Properties adds stake in Hefei project at Rmb803m
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