Property News · November 23, 2016

Evergrande inches closer to Vanke prize with 10pc stake in China’s largest developer


China Evergrande Group is inching closer to its goal of seeking a seat among the directors of China Vanke Co, with a disclosure that it has accumulated 10 per cent of the larger developer’s outstanding shares.
Associated companies and units belonging to Evergrande have bought 552 million Vanke shares on the Shenzhen Stock Exchange in August and September, doubling its stake to 10 per cent, according to a Vanke statement.
With the stake, Guangzhou-based Evergrande is eligible to call for a…

Source : South China Morning Post
Read more…Evergrande inches closer to Vanke prize with 10pc stake in China’s largest developer

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