China Resources to acquire Beijing Huayuan Property at RMB700 mln to 800 mln

China Resources (Holdings) Company Limited (CRH) announced to acquire all of the equity interest in Beijing Huayuan Property at a total consideration of about RMB700 million to RMB800 million. CRH has entered into an agreement with Huayuan and Ren Zhiqiang, Chairman and President of Huayuan, has decided to resign and sell its on-hand 18% in Huayuan. 5 projects of Huayuan, which are under construction, together with undeveloped land as well as liabilities will be transferred to CRH.

Related stock : (NIL)