Others News
- Merrill Lynch in talks on property JV
Date: 14-Sep-2007 Sources: (Shenzhen Daily)
MERILL Lynch is in the final stages of negotiations with Chinese industrial conglomerate VcanLand Group to set up a property joint venture in the world's fastest-growing major economy, two sources familiar with the situation said Thursday.
The proposed joint venture, in which VcanLand aims to take a greater-than 50 percent stake, will focus on investments in commercial property projects such as office buildings and hotels in the northern Chinese city of Tianjin near Beijing, the sources said. The deal is expected to be signed as early as October. Merrill Lynch and VcanLand are now finalizing legal and financial details of the joint venture, the sources said.
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