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Yunnan Metropolitan Real Estate Development Co Ltd to Set up Joint Venture

Friday, 25 Oct 2013 08:00pm EDT 

Yunnan Metropolitan Real Estate Development Co Ltd announced that it will set up a joint venture with a Yunnan-based investment company, to acquire passenger station assets from a Yunnan-based group company. The joint venture capitalized at RMB 50 million will be mainly engaged in real estate development and operation business in Yunnan. The Company and the investment company will hold 60% and 40% stake in the joint venture respectively, and may dissolve the joint venture if it fails to acquire the passenger station assets.