China Resources Land: Slowing Property Market May Stretch Balance Sheet in 2017
In late November, China Resources Land (CRL) announced it will acquired a 20.9% stake in China Enterprise for RMB 7.3 billion through shares subscription. China Enterprise is an A-share listed State-owned enterprise property developer in Shanghai. Its largest shareholder is Shanghai State-Owned Assets Supervision and Administration Commission (Shanghai SASAC). Strategically, this is a positive for the company as it marks the company’s first step to seek growth through mergers and acquisitions. P...China Resources Land is an investment holding company. Through its subsidiaries, Co. is engaged in the development and sales of developed properties, property investments and management, hotel operations and the provision of construction, decoration and other property development related services in the People's Republic of China. As of Dec 31 2014, Co. operated in four segments: sale of developed properties, property investments and management, hotel operations, and construction, decoration services and others.
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