China Vanke brings in Shenzhen Metro as 'white knight' in up to US$9.3b deal
Tue, Mar 15, 2016 - 5:50 AM
Yu Liang, president of China Vanke, the mainland's biggest property firm. Vanke shares in Hong Kong jumped as much as 14.4 per cent on Monday as investors welcomed the deal.
CHINA Vanke Co Ltd, the mainland's biggest property firm, signed a deal worth up to US$9.3 billion that could make subway operator Shenzhen Metro Group its biggest investor, intensifying a battle for control between Vanke's management and biggest current shareholder, financial...