Deals
Evergrande Raises Vanke Stake to 5% by Purchasing More A-Shares
A model of the city of Shanghai is displayed at the Shanghai Urban Planning Exhibition Center in Shanghai, China, on Tuesday, Jan. 29, 2013. China's economic growth accelerated for the first time in two years as government efforts to revive demand drove a rebound in industrial output, retail sales and the housing market.
Photographer: Tomohiro Ohsumi/BloombergThis article is for subscribers only.
Billionaire Hui Ka Yan’s property group boosted its stake in China Vanke Co., the developer at the center of a protracted ownership tussle, to 5 percent.
Companies controlled by China Evergrande Group paid 9.97 billion yuan ($1.5 billion) for mainland-listed A-shares between July 25 and Aug. 8, Vanke said in a filing on Monday to Shenzhen’s stock exchange. Evergrande last week said that it had a 4.68 percent holding.