Swire Properties to sell two Hong Kong office towers for nearly $2 bln

Swire Properties

15/06/2018 13:30

SINGAPORE, June 15 (Reuters) - Swire Properties Ltd
 1972.HK  plans to sell two office towers in Hong Kong for HK$15
billion ($1.9 billion) to Henglilong Investments Ltd, the latest
deal in one of the world's most expensive commercial property
markets.
    Swire Properties entered into an agreement to sell its
entire 100 percent stakes in Cityplaza Three and Cityplaza Four,
located on Hong Kong's main island, Swire said in a filing to
the Hong Kong stock exchange on Friday.  urn:newsml:reuters.com:*:nFWN1TH09G
    "The disposal will enable Swire Properties to realise cash
from its investment in the sale interest. The proceeds from the
disposal will be applied towards the general working capital
requirements of Swire Properties," it said. 
    The announcement came after the Hong Kong markets closed.
    Swire Properties shares closed 5.35 percent higher,
outperforming the Hang Seng Index's  .HSI  0.43 percent fall.

($1 = 7.8493 Hong Kong dollars)

 (Reporting by Hong Kong newsroom; editing by David Evans)
 ((hongkong.newsroom@thomsonreuters.com; (852) 2843-6441;))