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CHINA DEALS

China Overseas Land in 31b yuan deal to buy Citic's property assets

Move will help the state-owned property developer secure land amid rising prices

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The deal, which is subject to shareholder and regulatory approval, will free up Citic to focus on commercial property.

Hong Kong

CHINA Overseas Land & Investment (COLI) is buying the residential real estate business of conglomerate Citic for 31 billion yuan (S$6.6 billion) as the state-owned property developer moves to secure land amid their rising prices.

COLI is paying for the deal by issuing

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