China Vanke Co., Ltd. (SZSE:000002) agreed to acquire Chengdu Shengshi Jingwei Real Estate Co Ltd from Chengdu Hillwest Development Co. Ltd. for approximately CNY 1.6 billion on July 29, 2021. The consideration includes payment of 80% of CNY 1.4 billion in the next seven working days, while the remaining 20 per cent of CNY 1.4 billion will be paid on or before Nov 30. The consideration also includes a payment of additional CNY 156 million to a related company of Hillwest as repayment for loans extended to Chengdu Shengshi. The transaction is expected to take place by the second half of 2021.