Kepland acquires an additional stake in Jiangyin Evergro Properties Co., Ltd

Kepland acquires an additional stake in Jiangyin Evergro Properties Co., Ltd:

• Press Release

Key Points

• Keppel Land's indirect subsidiary, Shanghai Merryfield Land Co Ltd, has bought an additional 16.5 per cent stake in Jiangyin Evergro Properties Co Ltd (JEP).
• JEP owns the right to develop a residential and commercial mixed use site located in Cheng Jiang District in Jiangyin, China.
• With this acquisition, Keppel Land's aggregate effective interest has increased from 82.9% to 99.4%.
• The stake was bought from Jiangyin Evergro's shareholder, Jiangyin City Development Ltd, for RMB 36.9 million.