Keppel Land China: Divests Stakes In Waterfront Residences In Nantong For S$292 Million.

17 Aug 2017 10:26

Keppel Land China Limited's wholly-owned subsidiary, Merryfield Investment Pte. Ltd, has entered into an agreement to divest its entire 100% interest in Keppel Lakefront (Nantong) Property Development Co Ltd to Nantong Wanjun Commercial Information Consultancy Co., Ltd. a subsidiary of China Vanke Co., Ltd for a total consideration of RMB 1,430 million, approximately S$292 million. The transaction will yield for Keppel Land China a net divestment gain inclusive of exchange rate gain of about RMB 368.5 million, approximately S$75 million, upon completion expected by end-September 2017...

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