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Keppel divests Chengdu Shengshi Jingwei Real Estate for $324 mil

Felicia Tan
Felicia Tan7/29/2021 07:30 AM GMT+08  • 1 min read
Keppel divests Chengdu Shengshi Jingwei Real Estate for $324 mil
Keppel Land says it expects to recognise a divestment gain of RMB668 million.
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Keppel Land China, through its subsidiary, Hillwest Limited, is divesting 100% of its stake in Chengdu Shengshi Jingwei Real Estate to the subsidiaries of China Vanke (the buyers).

The buyers will acquire the sale shares from Hillwest at a consideration of RMB1.56 billion ($324 million).

Of the consideration amount, around RMB1.41 billion will be paid to Hillwest, and another RMB156 million will be paid to a related company of Hillwest as repayment for loans extended to Chengdu Shengshi.

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