Business Activities News
- Shenzhen Investment sells expressway stake
Date: 4-Jan-2007 Sources: (Shenzhen Daily)
SHENZHEN Investment Ltd. said yesterday it agreed to sell a 49 percent stake in a company that owns a Hubei highway operator to China Ping An Insurance (Group) Co. of China Ltd. for 618.17 million yuan (US$79.25 million).
Hong Kong-listed Shenzhen Investment, an investment arm of the Shenzhen Municipal Government, will own 51 percent of Hubei Shumyip Huayin Traffic Development Co. after selling a stake to Ping An, China's second-largest life insurer by premiums. Huayin Traffic owns 91 percent of Hubei Jingdong Expressway Construction & Development Co., which operates the 62.9-kilometer Jingdong Expressway in Hubei.
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