Yanlord snaps up 50% stake in Tianjin
Total cash consideration is at $4.1m.
Expanding its network of property developers, Yanlord Land Group Ltd. has announced its acquisition of a property development company in China.
The move was done through the group's wholly-owned subsidiary, Yanlord Development Co. Ltd., which acquired 50% stake in Tianjin Shenglin Property Development Co. Ltd.
The two parties arrived at a total cash consideration of $4.1 million (RMB 19.9m) for the acquisition.
The group noted that registered capital of Tianjin Shenglin is around $6.1 million (RMB 30m).