Property News · October 26, 2016

Li Ka-shing sells Shanghai complex for US$2.95 billion while yuan takes a tumble


Tycoon Li Ka-shing has sold a Shanghai office and retail complex to a company majority owned by China Life Insurance Co. for 20 billion yuan ($2.95 billion), paring his investment on the mainland while the yuan has taken a tumble.
Li’s Cheung Kong Property Holdings Ltd. and the Li Ka Shing (Overseas) Foundation agreed to sell their combined 100 per stake in the Century Link complex in the Lujiazui district to a company that’s been set up for the purchase.
The company is managed by…

Source : South China Morning Post
Read more…Li Ka-shing sells Shanghai complex for US.95 billion while yuan takes a tumble

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