Keppel Land China to acquire Guangzhou mixed-use development for $18m

Source: Picture of Westmin Plaza, Liwan District, Guangzhou, China (DiChanDaDang, JLL China's Online Real Estate Listings Platform)

Keppel Land China Limited, a subsidiary of SGX-listed Keppel Corporation Limited, has entered into an agreement with Topchain Group to acquire a 30 per cent stake in WinUp Global that owns the Westmin Plaza, a mixed office-cum-retail development in Liwan District, Guangzhou, China.

The acquisition price is approximately HK$141.40 million ($18.04 million) comprising cash and shareholder loans as of September 23, 2019. The remaining 70 per cent stake will be held by Topchain.

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