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Yanlord acquires 50% stake in Tianjin developer for RMB20 mil

Gwyneth Yeo Published on Wed, Sep 28, 2016 / 6:24 PM GMT+8

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SINGAPORE (Sept 28): Yanlord Land Group says wholly owned subsidiary, Yanlord Development Tianjin Co, has acquired a 50% stake in Tianjin Shenglin Property Development Co. for RMB19.9 million ($4.1 million).

Tianjin Shenglin is in the business of property development with a registered capital of RMB30 million and net tangible assets worth RMB19.91 million.

The transaction is not expected to impact the group’s earnings per share for FY16 ended December.