Sunac China Holdings Ltd. (1918.HK) is planning to acquire two stakes of 51% each in a pair of Chinese companies that develop and operate real-estate projects in China for 15.27 billion yuan ($2.17 billion).
Chinese real-estate developer Sunac China will buy the stakes from YMCI, the state-owned assets supervision and administration commission of Yunnan Province, it said in a Hong Kong exchange filing Wednesday.
YMCI will hold the remaining 49% stakes of both companies, Global Century and Times Global, the statement said. Global Century and Times Global manage 18 real-estate projects, including residential, commercial and hotel properties.
Sunac said it will fund the acquisitions with its internal resources.
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