Business Activities News
- Shanghai News
Date: 7-Feb-2007 Sources: (Shenzhen Daily)
SINGAPORE developer CapitaLand Ltd. said yesterday it has acquired a 95 percent stake in Shanghai Guang Nan Real Estate Development Co. for 33.25 million yuan (US$4.3 million).
Shanghai Guang Nan, which owns the right to acquire and develop a prime residential site in the Qingpu District of Shanghai, had net tangible asset value of 5 million yuan as of Dec. 31, 2006, CapitaLand said in a statement. The acquisition is expected to be completed by the first quarter of 2007, subject to regulatory approval, CapitaLand said.
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