Shenzhen Tusincere Tech News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A rendering of the Shenzhen Tusincere Tech Park on Longgang district
Singapore-listed City Developments Ltd on Monday said it had agreed to acquire an effective 55 percent stake in a Shenzhen technology park in a bid to shore up the liquidity of CDL’s joint venture with Chinese developer Sincere Property Group.
Under the terms of the deal, CDL has acquired a combined 84.6 percent interest from three separate shareholders Sincere itself and two entities controlled by mainland insurer Ping An in a holding firm, Shenzhen Tusincere Technology Park Development, for RMB 850 million ($131.5 million).
The holding firm in turn controls a 65 percent interest in Shenzhen Tusincere Technology Park, with a local state-owned enterprise owning the remaining 35 percent of the project, which has been independently valued at RMB 8.8 billion. ....

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