CapitaLand to sell stake in HK-listed Central China Real Estate

CAPITALAND has entered into an agreement to sell its entire 24.09 per cent stake in Hong Kong-listed Central China Real Estate to CCRE's existing shareholder, Joy Bright Investments.CCRE last traded at HK$3.45 per share on June 28.

Lucas Loh, president for CapitaLand Group, said:"As part of our proactive portfolio management, we regularly review our investments and evaluate opportunities that will enhance returns and complement the group's strategy. CapitaLand's stake in CCRE has generated stable returns over the years.

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