The China property venture to be sold by Metis Energy is called Manhattan Property Development, whose key project is developing the Ningbo Yinzhou Manhattan Tower. Metis Energy had earlier decided not to allocate additional resources to this venture after it commenced its shift towards renewable energy.
Metis Energy plans to sell its stake in a China property venture for US$45.7 million to its own controlling shareholder, so that it can focus on its fledging green energy business.
Metis Energy was recently renamed from Manhattan Resources, which was in the business of providing coal mining-related services.
