Yanlord buys 30% shares in two Chinese developers
The combined consideration price hit $336.27m.
Yanlord bought 30% stakes in two Chinese property developers through its two subsidiaries.
According to an announcement, its subsidiary Shanghai Renrui Real Estate bought a 30% interest in Hangzhou Kesheng Property Development (Hangzhou Kesheng) for $105.76m (CNY515.61m).
Hangzhou Keshen's net tangible asset value stood at $3.07m (CNY14.99m).
Shanghai Renhang Real Estate also bought 30% in Hangzhou Keyi Property Development (Hangzhou Keyi) for $230.57m (CNY1.12b).
Hangzhou Keyi's net tangible asset value stood at $3.07m (CNY14.99m).