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Revisions

Yanlord Land unit acquires remaining 25% stake in subsidiary for $234 mil

Jude Chan Published on Mon, Jan 09, 2017 / 7:03 PM GMT+8

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SINGAPORE (Jan 9): Yanlord Land Group announced Monday that wholly-owned subsidiary Yanlord (Shenzhen) Investment Management Co. has acquired the remaining interest of 25% in Shenzhen Hengming Commercial Co. for RMB 1.1 billion ($234 million).

The cash consideration for the acquisition will comprise three payments, Yanlord says in a filing to SGX.

Following the acquisition, Yanlord Shenzhen will have a 100% interest in Shenzhen Hengming.

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