Hong Kong's Kerry Properties says to sell two warehouses for $589 mln

Kerry Properties

22/05/2022 13:52

May 22 (Reuters) - Kerry Properties Limited  0683.HK :
    - Agrees to sell two warehouses in Hong Kong to Chinese
state-owned China Resources Logistics for HK$4.62 billion ($589
million)
    - Expects a gain of approximately HK$883 million from the
disposal
    - Says the disposal will unlock the value of the warehouses
and enable the company to recycle capital to strengthen its
balance sheets  and operations    

($1 = 7.8474 Hong Kong dollars)

 (Reporting by Clare Jim; Editing by Elaine Hardcastle)
 ((clare.jim@thomsonreuters.com;))