May 26, 2017 / 3:06 PM / 2 months ago

BRIEF-Shui On Land announces disposal of majority equity interests in Chongqing Project

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May 26 (Reuters) - Shui On Land Ltd

* Shui On Development, seller (each a wholly-owned subsidiary of company), Vanke and purchaser entered into agreement

* Sale equity will be transferred from Grand Hope Limited to purchaser

* Consideration for disposal of sale equity shall be an initial amount of RMB4.13 billion

* Consideration shall be paid in cash by purchaser

* Group anticipates that disposal of sale equity will realise a gain of approximately RMB1.70 billion Source text for Eikon: Further company coverage:

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