Power play at Vanke seen ending with 15.3% stake sale

Hong Kong

STATE-OWNED Shenzhen Metro Group's purchase of the second-biggest holding in China Vanke is likely to pave the way for it to take control of the property giant and put an end to a year-long high-profile corporate power struggle.

Vanke, the nation's biggest property developer by market value, has been in crisis since Baoneng Group, a financial conglomerate, built up a stake of 25 per cent and sought to oust management.