SUBSCRIBERS
Much uncertainty about Vanke's rescue plan
Published Mon, Mar 14, 2016 · 09:50 PM
Hong Kong
CHINA Vanke has found a saviour. After months of uncertainty, the property developer has unveiled a plan to sell a stake to Shenzhen's metro operator in return for assets worth up to US$9.3 billion.
The deal would help Vanke see off a possible hostile bid. However, shareholders are not yet able to determine whether they are being rescued by a white knight or swallowing a poison pill.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Distressed builder Taeyoung wins debt restructuring vote
China Evergrande to delay 2023 annual results; shares remain suspended
Dubai ruler’s firm refinances US$8.2 billion to tap property boom
US home prices jump by most in nearly two years in February
UK’s second biggest mortgage lender pulls offers over flood risk
China state firm to sell 20 Shanghai office towers in downturn