Keppel, co-investors in deal to buy Shanghai's Yi Fang Tower for 4.6b yuan
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Vivienne Tay
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Singapore
KEPPEL Corp and certain co-investors have signed a deal to acquire Yi Fang Tower, a commercial development in Shanghai, China, for 4.6 billion yuan (S$916 million), the company said in a bourse filing on Tuesday.
This will be done through Keppel subsidiaries under its asset management and property arms, and follows a shareholders' agreement made on March 25 over joint venture company North Bund Keppel.
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