China property giant Vanke buys Shenzhen Metro unit for $6.9b

China property giant Vanke buys Shenzhen Metro unit for $6.9b

An employee walks past a logo of Vanke at its headquarters in Shenzhen, south China's Guangdong province, November 2, 2015. REUTERS/Tyrone Siu

China Vanke, the mainland’s biggest property company by sales, said it will acquire a unit of Shenzhen Metro Group for 45.6 billion yuan ($6.9 billion) via a new share issue, making the state-owned subway operator its largest shareholder.

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