China Aoyuan Property (03883) said it agreed to acquire the entire equity interests in Beijingshi Xishui Garden Property Management Co., Ltd. at Rmb658 million.
The target company is principally engaged in the businesses of, among other things, property investment and development, and property management. It currently involved in the investment and development of the office at Lot B-2 and Lot B-1, and basement car parking floor at Lot C-10, known as Jianan Building, located at Building 2, You An Men External Street, Feng Tai District, Beijing, PRC with gross floor area of 15,994.88 square metres as integrated use for commodity housing.
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