Keppel eyes 30% stake in China project
Its share of office and retail complex in Guangzhou comes to HK$141m; China's Topchain holds remaining stake
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Fiona Lam
Singapore
THE property arm of Keppel Corporation is looking to buy a 30 per cent stake in Win Up Global (WUG) - which will ultimately own Westmin Plaza, an office and retail development in Guangzhou, China - for a total investment of HK$141.4 million (S$24.8 million).
Keppel Land China, a wholly owned subsidiary of Keppel Land, has entered into a share sale and shareholder loan transfer agreement with Chinese real estate developer Topchain Group, according to Keppel Corp's bourse filing on Tuesday. Topchain will continue to hold the remaining 70 per cent stake in WUG.
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