YUEXIU PROPERTY's subsidiary holds a 20% stake in a residential project in Hangzhou, involving an investment of 600 million RMB
YUEXIU PROPERTY (00123.HK) announced that its subsidiary Hangzhou Yuejia has acquired a 35.35% stake in Binjiang Group (002244.SZ) for a total consideration of 600 million RMB, including a share transfer price of 283 million RMB, interest payable of 1.64 million RMB, and a shareholder loan of 316 million RMB provided according to the shareholding ratio, which will be allocated from internal resources.
Hangzhou Binwan holds a land parcel located in Xiaoshan District, Hangzhou City, with a total area of 28,869 square meters, which will be developed for residential purposes for sale
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