Vanke unit Onewo to buy remaining stake in Shanghai Xiangda for $120 million

Reuters

03-31

Vanke unit Onewo to buy remaining stake in Shanghai Xiangda for $120 million

March 31 (Reuters) - Chinese property developer Vanke's 000002.SZ residential property management unit Onewo 2602.HK said on Monday it will take full ownership of real estate development firm Shanghai Xiangda for 870.3 million yuan ($119.99 million).

Onewo currently has a 55% stake in Xiangda.

($1 = 7.2530 Chinese yuan renminbi)

(Reporting by Nichiket Sunil in Bengaluru; Editing by Vijay Kishore)

((Nichiket.Sunil@thomsonreuters.com;))

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