Yanlord buys 30% shares in two Chinese developers

The combined consideration price hit $336.27m.

Yanlord bought 30% stakes in two Chinese property developers through its two subsidiaries.

According to an announcement, its subsidiary Shanghai Renrui Real Estate bought a 30% interest in Hangzhou Kesheng Property Development (Hangzhou Kesheng) for $105.76m (CNY515.61m).

Hangzhou Keshen's net tangible asset value stood at $3.07m (CNY14.99m).

Shanghai Renhang Real Estate also bought 30% in Hangzhou Keyi Property Development (Hangzhou Keyi) for $230.57m (CNY1.12b).

Hangzhou Keyi's net tangible asset value stood at $3.07m (CNY14.99m).

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