Tue 01/30/2024 05:26 AM
Gemdale Group is discussing with an insurance company to sell an asset package which owns several projects in Shanghai with the deal, if materialized, expected to bring in CNY 500 million ($69.7 million) to CNY 600 million in net proceeds to the company, according to two sources familiar with the matter.
The asset package is valued at around CNY 2 billion, the two sources noted.
Meanwhile, Gemdale remains in negotiations with bank lenders to raise a new syndicated loan backed by its...
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