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BRIEF-China Vanke Co announces consolidation of commercial properties
March 17, 2017 / 12:07 PM / 9 months ago

BRIEF-China Vanke Co announces consolidation of commercial properties

March 17 (Reuters) - China Vanke Co Ltd

* Consolidation Of Commercial Properties

* Resolution regarding consolidation arrangement of commercial properties of group submitted to board on 11 March 2017 was approved by all directors

* Group proposes to form investment funds

* Total capital contribution group is expected to contribute to investment funds amounts to rmb5.1 billion

* Upon formation of investment funds, group proposes to enter into asset transfer framework agreement with SPV

* Consideration of disposal of assets is expected to be in range of rmb8.60 billion to rmb9.0 billion Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

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