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China's Sunac in talks to buy 30 pct of fellow developer Greentown
May 16, 2014 / 2:26 AM / 3 years ago

China's Sunac in talks to buy 30 pct of fellow developer Greentown

HONG KONG, May 16 (Reuters) - Sunac China Holdings Limited said it is in talks to buy 30 percent of fellow property developer Greentown China Holding Ltd, sending shares in Greentown 5 percent higher.

Greentown said that while the two companies were in discussions, it had not yet received a formal offer.

Sunac shares were down 7 percent as of 0157 GMT.

Reporting by Clare Jim; Editing by Edwina Gibbs

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