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Keppel Land China fully divests Waterfront Residences in Nantong for $75 mil gain

Samantha Chiew Published on Wed, Aug 16, 2017 / 6:38 PM GMT+8

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SINGAPORE (Aug 16): Keppel Land China announced wholly-owned subsidiary, Merryfield Investment, has entered into an agreement to divest 100% of its interest in Keppel Lakefront (Nantong) Property Development (KLNPD) to Nantong Wanjun Commercial Information Consultancy, a subsidiary of China Vanke.

Keppel Land China is a wholly-owned subsidiary of Keppel Land, the property arm of the Keppel Group.

The transaction has a total consideration of RMB1.43 billion ($292 million) and will yield for Keppel Land China a net divestment gain of about RMB368.5 million.

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Keppel Land China fully divests Waterfront Residences in Nantong for $75 mil gain