CCCG to buy US$775mil stake in Greentown China


HONG KONG: Property developer Greentown China Holdings Ltd said state-owned China Communications Construction Group Ltd (CCCG) is buying a 24.29% stake in it for about US$775mil, days after a planned stake sale to another firm failed.

CCCG, the controlling shareholder of China Communications Construction Co Ltd, has agreed to buy a total 524.85 million shares from three Greentown shareholders, including Shou Bainian, Song Weiping and Xia Yibo, at HK$11.46 each, Greentown said in a filing to the Hong Kong bourse yesterday.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

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Business , Greentown , property , china

   

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