China Railway discloses details of stake buy

A photographer takes photos of a high speed train in Futian railway station, Asia's largest underground railway station, in Shenzhen, south China's Guangdong province on December 30, 2015. - AFP

PETALING JAYA: China Railway Group Ltd said the company and its joint-venture partner Iskandar Waterfront Holdings Bhd (IWH) will pay a combined RM5.28bil for their controlling 60% equity interest in Bandar Malaysia Sdn Bhd.

The figure, as disclosed by China Railway in its filing yesterday to the Hong Kong Stock Exchange, however, was lower than the RM7.41bil price tag announced on Thursday.