HK's Swire Properties to pay $1.34 bln for stakes in two Chinese companies

Swire Properties

04/09/2023 12:32

Sept 4 (Reuters) - Hong Kong's Swire Properties
 1972.HK  said on Monday it has submitted bids to acquire equity
interests in two limited liability companies incorporated in
China in deals valued at 9.71 billion yuan ($1.34 billion).
    Elegant Ocean, a Swire Properties unit, bid for a 40% stake
in Shanghai Dongmao Real Estate, while United Hill, another
subsidiary, is set to acquire a similar stake in Shanghai
Yaolong Investment.
 
 ($1 = 7.2700 Chinese yuan renminbi)

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Savio
D'Souza)
 ((Rishav.Chatterjee@thomsonreuters.com;))