, Singapore

Keppel Land China divests 40% interest in Nanjing Jinsheng

The completion of divestment will take place during the first quarter of 2022.

Keppel Land China, through its subsidiary Eternal Commercial, will divest 40% of its equity interest in Nanjing Jinsheng Real Estate Development to Yangzhou Jinhang Real Estate Development and Shanghai Luxin Real Estate Development.

The buyers will acquire the sale shares from Eternal and pay an aggregate amount of approximately $362m (RMB1.7b) in cash upon the regulatory authorities' approval of the cross-border remittance of the consideration to Eternal's designated offshore bank account. 

Following completion of the divestment, Nanjing Jinsheng will no longer be an associated company of Keppel Corporation. The divestment will take place by the first quarter of 2021.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!