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Yanlord subsidiary takes 50% stake in Tianjin property developer

Wednesday, September 28, 2016 - 17:44
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YANLORD Land Group's wholly owned subsidiary Yanlord Development (Tianjin) Co has acquired a 50 per cent stake in a company in Tianjin, China for 19.91 million yuan (S$4 million).

YANLORD Land Group's wholly owned subsidiary Yanlord Development (Tianjin) Co has acquired a 50 per cent stake in a company in Tianjin, China for 19.91 million yuan (S$4 million).

The company, Tianjin Shenglin Property Development Co, is in property development.

"The consideration was arrived at on a willing buyer, willing seller basis and has been fully paid," said Yanlord in a release to the Singapore Exchange.

The net tangible asset of the acquisition based on a valuation report dated March 1 was valued at approximately 19.91 million yuan.

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