Citic unit to take 99% Xintai shares
Updated: 2012-11-21 10:51
(China Daily)
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Citic Pacific's unit Yangzhou Xintai will inject 1.24 billion yuan ($198.93 million) for a 99.2 percent interest in Shanghai Xintai, which owns two plots of land on the Shanghai World Expo site, according to a statement to the Hong Kong stock exchange on Tuesday.
Shanghai Xintai is a unit of Citic Pacific's controlling shareholder, Citic Group.
Shanghai Xintai plans to build 2 office towers on the land.
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