Yanlord Land buys 54 percent stake in Wuhan Yanlord for around 331 million yuan

China yuan coins

Yanlord Land said on Thursday that its wholly owned subsidiary, Nanjing Renyuan Investment, acquired an additional 54 percent stake in Wuhan Yanlord Zhuyeshan Real Estate for 330.73 million yuan.

That comprised a registered capital of 159.65 million yuan and a capital reserve of 171.08 million yuan, it said in a filing to SGX after the market close on Thursday.

The deal brought Nanjing Renyuan’s stake in Wuhan Yanlord to 55 percent, up from 1 percent previously, it said.

Wuhan Yanlord is mainly involved in property development and related activity, it said.

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