Shanghai Fengwo owns 100% of the equity interest in Taicang Xinwu Business Consulting Co Ltd. The latter, in turn, owns 15% of the equity interest in Taicang Zhuchong Business Consulting Co Ltd. Taicang Zhuchong indirectly owns Upview, an 8.4-hectare residential project in Shanghai’s Jiading district.
Keppel Land, a wholly-owned subsidiary of Keppel Corporation, is divesting 100% of its shares in Shanghai Fengwo Apartment Management Co Ltd (Shanghai Fengwo) to Shanghai Jindi Jinli Industry Development Co Ltd (the buyer) for a total consideration of RMB783 million ($151 million).
The divestment was made through Keppel Land’s indirect wholly-owned subsidiary, Gadius.
