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CapitaLand decreases stake in Guangzhou Kai Ke Xing Mao Real Estate to hold 45% interest

Felicia Tan
Felicia Tan8/3/2020 06:01 PM GMT+08  • 2 min read
CapitaLand decreases stake in Guangzhou Kai Ke Xing Mao Real Estate to hold 45% interest
Through the transaction, CapitaLand has unlocked capital for reinvestment and GKK has secured an additional capital partner for its project.
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CapitaLand Limited announced on Monday (August 3) that its interest in Guangzhou Kai Ke Xin Mao Real Estate (GKK) has decreased to 45%.

On Monday (August 3), CapitaLand announced that CLC Investment Seven (CIS) and GKK’s other shareholders had divested 40% equity interest to a purchaser unrelated to CapitaLand for a cash consideration of RMB395.7 million ($78.6 million).

GKK is currently held through CIS, which is CapitaLand’s wholly-owned subsidiary.

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