Property News · November 30, 2016

Vanke tussle intensifies as Evergrande gets closer to No 2 shareholder


China Evergrande Group is fast approaching the door to China Vanke’s boardroom after it has accumulated a 14 per cent stake in the country’s largest homebuilder and is on its way to become its second-largest shareholder.
Vanke, chaired by property tycoon Wang Shi, has been embroiled in a long-running battle over control as the company is fending off a potential hostile takeover by Baoneng Group. And the tussle has become more complicated in recent months as Evergrande joined the…

Source : South China Morning Post
Read more…Vanke tussle intensifies as Evergrande gets closer to No 2 shareholder