Hangzhou-based developer Greentown China Holdings, the country’s ninth largest developer in terms of sales, has agreed to sell two wholly owned subsidiaries to China Investment for a combined 3.47 billion yuan (US$503 million), according to a Hong Kong stock exchange filing on Sunday.
Greentown will sell its entire stake in Greentown Yinshi and Hangzhou Litao for 1.78 billion yuan and 1.69 billion yuan respectively. Both companies hold plots of land located in Chaoyang District in Beijing…
Source : South China Morning Post
Read more…China developer Greentown agrees to sell two subsidiaries for 3.47bn yuan















