News Formal

China's Shimao sells stake in joint venture company to reduce debt

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 1 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 4%
  • Publisher: 66%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Chinese real estate company Shimao Group Holdings said on Monday it would sell a 26.67per cent stake in the joint venture Guangzhou Lihe Property Development for 1,844.5 million yuan ($291.48 million) in order to reduce its debt. ($1=6.3280 Chinese yuan renminbi) (Reporting by Tejaswi Ma

FILE PHOTO: A man walks past a wall carrying the logo of Shimao Group, with residential buildings and the financial district of Pudong seen in the background, in Shanghai, China January 1, 2013. Picture taken January 1, 2013.

REUTERS/Stringer
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines