Ever­grande ups Vanke stake to 10%

China Daily (USA) - - BUSINESS -

China Vanke Co Ltd said on Wed­nes­day that China Ever­grande Group had bought an­other 551.96 mil­lion A shares in Vanke in Au­gust and Novem­ber, dou­bling its stake in the de­vel­oper to 10 per­cent. Vanke, which is at the cen­ter of a high-pro­file and com­plex cor­po­rate bat­tle, said Ever­grande hiked its hold­ing to 1.10 bil­lion A shares dur­ing Aug 12-22 and Nov 9-22, from 551.96 mil­lion A shares, or 5 per­cent of the is­sued share cap­i­tal. “The change in share­hold­ing does not lead to a change in the com­pany’s largest share­holder,” Vanke said in a fil­ing to the Hong Kong bourse, adding the change in share­hold­ing did not trig­ger a gen­eral of­fer. It gave no fur­ther de­tails. 40 per­cent year-on-year. China Union­Pay Chair­man Ge Huay­ong said it planned to en­able all point-of-sale ter­mi­nals in Por­tu­gal to ac­cept Union­Pay cards by the end of 2017. ex­ist­ing home sales, which are com­pleted trans­ac­tions that in­clude sin­gle-fam­ily homes, town­homes, con­do­mini­ums and co-ops, grew 2 per­cent from the pre­vi­ous month to a sea­son­ally ad­justed an­nual rate of 5.6 mil­lion in Oc­to­ber, said the Na­tional As­so­ci­a­tion of Real­tors. The pace of sales was now 5.9 per­cent above that of a year ago and reached the high­est level since Fe­bru­ary 2007, the as­so­ci­a­tion said. study by ac­count­ing firm Ernst & Young, most of the 73 big cities with more than 100,000 res­i­dents recorded a debit rise in 2015. “Many large Ger­man cities are fall­ing deeper and deeper into the debt trap, de­spite the bub­bling tax rev­enues and good eco­nomic con­di­tions,” Ger­man me­dia cited the study as re­port­ing. took more than six years for vis­i­tor num­bers to climb from 5 to 6 mil­lion.”

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