China Business News: Shanghai Industrial acquires parent's branch for RMB 332 mln

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Shanghai Industrial acquires parent's branch for RMB 332 mln

Jun. 12, 2009 (China Knowledge) - Shanghai Industrial Development Co Ltd<600748> on Jun. 10 announced that it has acquired a 100% stake in a branch from its parent, Shanghai Industrial Investment (Holdings) Co Ltd, for RMB 332 million, sources reported. The branch, which carries a debt of RMB 903 million, has a piece of residential land that covers 808,500 square meters (sq m) and has 404,20

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