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Shanyuan to dispose of stake in Chinese property subsidiary for 388M yuan

Taiwanese developer Shanyuan Co. Ltd. sold a 27.53546% stake in a property subsidiary based in China for 388.1 million yuan.

The unit holds US$36.5 million worth of investments in China, according to a filing.

As of Dec. 15, US$1 was equivalent to 6.61 yuan.