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CHINA VANKE in Talks with GIC to Sell Controlling Stake in VX Logistics: Rumor
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CHINA VANKE (02202.HK), a leading Chinese developer facing huge debts, is in advanced talks to sell a controlling stake in VX Logistics to Singapore's sovereign wealth fund GIC, Reuters quoted insiders as saying. The deal is expected to be finalized in February at the earliest. CHINA VANKE has been trying to sell a number of assets, including shares in cold chain logistics company VX Logistics, logistics platform Global Logistic Properties (GLP) and property manager ONEWO (02602.HK), to ease liquidity pressures, sources said last week. AAStocks Financial News |
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