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Stake sale to Ping An to help Country Garden cut costs
Published Thu, Apr 2, 2015 · 09:50 PM
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Hong Kong
COUNTRY Garden Holdings will sell a 9.9 per cent stake to Ping An Insurance Group as Chinese developers struggle to navigate a slumping property market.
Ping An, China's second-biggest insurer, will pay about HK$6.3 billion (S$1.1 billion), helping Country Garden fund projects and boost capital.
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