Vanke to buy Russia developer: source

Source:Global Times Published: 2017/9/27 21:28:40

O1 Properties, one of the largest investment companies in office real estate in Moscow, is in talks with Chinese developer Vanke Group about a potential stake sale, a source close to the talks told Russia's media company RBC, domestic news site thepaper.cn reported on Tuesday.

Vanke declined to comment when reached by the paper.cn.

A source close to the talks told Reuters on Tuesday that O1 Properties and Vanke are talking about a stake of up to 51 percent in the Russian company.

O1 Properties owns and manages 15 business centers in Moscow worth around $4 billion, according to the company. The source said O1 wants to raise cash for new acquisitions, Reuters reported.



Posted in: COMPANIES

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