trending Market Intelligence /marketintelligence/en/news-insights/trending/jgpieff7o003yd8cv7c76g2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Fullsun International inks 430.5M-yuan deal for stake in Chinese developer

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Fullsun International inks 430.5M-yuan deal for stake in Chinese developer

Fullsun International Holdings Group Co. Ltd.'s Shanghai Fullsun Properties Co. Ltd. subsidiary agreed to acquire a 75% stake in Chinese property developer Jiaxing City Bojin Properties Co. Ltd. for a total of 430.5 million yuan.

The sellers are Zhongbo International (China) Investment Co. Ltd., Fujian Changrun Investment Co. Ltd. and Fujian Zhongbo Investment Co. Ltd., according to a release. Upon completion of the deal, Zhongbo International will hold the remaining 25% in the target company, which will become an indirect nonwholly owned subsidiary of Fullsun International.

The target company owns a commercial and residential project with land in China's Jiaxing City. The project, which comprises a total construction area of roughly 222,000 square meters, was valued at approximately 289.6 million yuan as at May 31. Jiaxing City Bojin Properties plans to invest about 800.0 million yuan in the development, which is slated for completion in 2019.

As of Sept. 6, US$1 was equivalent to 6.84 yuan.