Yanlord Land’s wholly owned subsidiary Suzhou Peninsula Yanlord Real Estate sold its 100 percent interest in Suzhou Rendao Enterprise Management to an unrelated party for 9.25 million yuan (S$1.83 million or US$1.34 million) in cash, the China property developer said in a filing to SGX Friday.
Suzhou Rendao Enterprise Management holds a 20 percent stake in Suzhou Rentong Property Development, the filing said.
Nanjing Renyuan Investment, a wholly owned subsidiary of Yanlord, also holds a 40 percent stake in Suzhou Retong, the filing said.
After the disposal of Suzhou Rendao Enterprise Management, Yanlord’s stake in Suzhou Rendao Enterprise Management will fall to 40 percent from 60 percent, the filing said.
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