Property News · March 27, 2017

Vanke delays board re-election to hold Baoneng at bay


China Vanke Co., the country’s second-largest developer and target of a hostile takeover last year, said it will refrain from appointing a fresh board of directors even as their tenure ends, dealing a fresh blow to the acquirer Baoneng Group’s effort to seize control.
The tenure of Vanke’s 11-member board expired on Monday, but the Shenzhen-based developer said they can continue to perform their duties, showing no imminent plan to call for a fresh election.
“We do not…

Source : South China Morning Post
Read more…Vanke delays board re-election to hold Baoneng at bay

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