Hong Kong-based China Jinmao Holdings (HKG:0817) has acquired the remaining 49% stake in its subsidiary Xi'an Changmao Property for about 1.69 billion yuan, according to a Tuesday filing with the Hong Kong stock exchange.
The transaction, executed through China Jinmao's indirect wholly-owned subsidiary, Xi'an Shunmao, sees the purchase of Jiaxing Tangmao's stake in the project company.
The transaction will be funded through internal resources and finalized within 30 working days.
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