Some RMB845.2 million will be paid as consideration for the divestment while the remaining RMB414.8 million is for repayment of loans that CHD owes to a subsidiary of Hillwest.
Keppel Land China announced on Nov 10 that it has divested 100% of the equity interest in Chengdu Hilltop Development Co Ltd (CHD) to Chengdu Longfor Development Co for a consideration RMB1,260 million ($250.4 million).
The divestment was made by Keppel Land China’s subsidiary Hillwest Pte Ltd.
