At the same time, Sincere will transfer the remaining 15.4% interest in Shenzhen Tusincere Technology Park to CDL as partial repayment of a loan still owed to the latter.
Analysts from Bank of America (BofA) Securities, Citi Research, CLSA and Lim & Tan are all positive on City Developments Limited (CDL) after the group announced that it was divesting its entire stake in Sincere Property Group for US$1.
On Sept 10, CDL announced that it was fully divesting its 51% stake in the cash-strapped Chinese property group to an unrelated third party.
