29-04-2014, 08:46 PM
ADF I of ARA divesting Nanjing IFC also being "counted" towards "Superman offloading assets in China" - Incredible !
Li sells Nanjing IFC
Thursday, January 02, 2014
Tycoon Li Ka-shing has sold his only commercial property in Nanjing for about 3 billion yuan (HK$3.84 billion) to mainland conglomerate SanPower Group
This is the fourth time that the chairman of Cheung Kong Holdings (0001) has offloaded assets in the mainland since last August, for a total of at least 12.6 billion yuan.
A SanPower Group spokesman said the group has acquired the Nanjing IFC for more than 2 billion yuan from ARA Asset Management Ltd, a subsidiary of Cheung Kong, Xinhua News Agency reported yesterday.
Other sources close to the deal said the price tag could reach up to 3 billion yuan.
ARA bought the premises in 2008 for 1.6 billion yuan from China Merchants Property Development.
KAREN CHIU
http://www.thestandard.com.hk/news_detai...con_type=1
Li sells Nanjing IFC
Thursday, January 02, 2014
Tycoon Li Ka-shing has sold his only commercial property in Nanjing for about 3 billion yuan (HK$3.84 billion) to mainland conglomerate SanPower Group
This is the fourth time that the chairman of Cheung Kong Holdings (0001) has offloaded assets in the mainland since last August, for a total of at least 12.6 billion yuan.
A SanPower Group spokesman said the group has acquired the Nanjing IFC for more than 2 billion yuan from ARA Asset Management Ltd, a subsidiary of Cheung Kong, Xinhua News Agency reported yesterday.
Other sources close to the deal said the price tag could reach up to 3 billion yuan.
ARA bought the premises in 2008 for 1.6 billion yuan from China Merchants Property Development.
KAREN CHIU
http://www.thestandard.com.hk/news_detai...con_type=1