Asian News

Sunac China in $2.1 billion property deal with Legend

HONG KONG: Chinese real estate developer Sunac China Holdings Ltd will buy property businesses for a consideration of 13.8 billion yuan ($2.07 billion) from Legend Holdings, according to a stock exchange notification.

After the transaction is completed, Sunac will own 42 property projects via companies in 16 cities including Beijing, Tianjin, Chongqing and Hangzhou, according to the notification. ($1 = 6.6707 Chinese yuan renminbi)

By: Saikat Chatterjee  & Editing by Stephen Coates

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