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Sunac to Sell 51% Stake in Project for $520mn

Sunac to Sell 51% Stake in Project for $520mn

Sunac China's unit will sell a 51% stake in Shenzhen Ronghua Land Investment to Zhuhai Huafa for RMB 3.6bn ($520mn). Proceeds will be used to repay loan obtained for financing acquisition of a project in Shenzhen. Sunac is among the several Chinese distressed property...

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