The acquisition was priced $65.74m.
Yanlord Land Group, through a wholly-owned subsidiary, bought an 80% stake in developer Chongzhou Yanlord Land Co Ltd.
According to an announcement, the deal had a consideration price of $65.74m (CNY321m) that will be paid in three instalments.
Chongzhou Yanlord Land Co Ltd is formerly known as Chongzhou Xinlei Property Development Co Ltd and focuses on property development.
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