Deals
COFCO Adds Properties to Hong Kong Unit in $1.8 Billion Deal
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COFCO Corp., a Chinese state-owned company, will sell commercial properties to a Hong Kong-listed affiliate in exchange for shares, in a HK$14.2 billion ($1.8 billion) transaction that creates a larger entity and provides access to a broader pool of investors.
Hong Kong Parkview Group Ltd., 69 percent owned by a unit of COFCO, will buy stakes in companies that hold assets in Chinese cities including Beijing and Chengdu, it said today in a filing to the Hong Kong stock exchange. It will sell as many as