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Tencent, Hony Capital win Shenzhen land auctions
May 22, 2014 / 8:10 AM / 4 years ago

Tencent, Hony Capital win Shenzhen land auctions

HONG KONG, May 22 (Reuters) - China’s internet giant Tencent Holdings Ltd and Legend Holdings’ private equity arm Hony Capital bought land parcels in a pilot economic zone in the southern Chinese city of Shenzhen for a total of 2.2 billion yuan ($352.92 million), an official at the land authority said on Thursday.

Tencent paid 1.55 billion yuan of the land, while Hony Capital paid 646 million yuan, the official said.

The Qianhai economic zone, which auctioned four sites on Thursday with a total area of around 582,000 square metres, has set specific business and revenue criteria for bidders for each parcel of land for the first time, targeting only IT-related and private equity fund companies. ($1 = 6.2337 Chinese Yuan) (Reporting by Clare Jim; Editing by Anne Marie Roantree and Miral Fahmy)

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