Sunac may revise purchase of Greentown stake

Hong Kong

SUNAC China Holdings Ltd is considering revising an agreement to purchase a 24 per cent stake in Greentown China Holdings Ltd after the target's founder rescinded his wish to sell a stake in the Chinese developer.

Sunac, based in Tianjin, has already paid for the shares in order to "make further progress with the acquisition", it said in a statement to the Hong Kong stock exchange on Monday.