October 11, 2016 / 3:07 PM / in a year

BRIEF-Shimao Property udpates on equity transfer agreements signed by Shanghai Shimao

Oct 11 (Reuters) - Shimao Property Holdings Ltd

* Shanghai Shimao entered into equity transfer agreements

* agreements to substitute Qianhai Shimao agreements, Nanchang Shuicheng agreement and Hangzhou Shimao agreement

* agreements for furtherance of equity transfer transactions as originally contemplated, utilising internal financial resources

* Shanghai Shimao conditionally agreed to acquire 51% equity interests in Qianhai Shimao from Shimao Jianshe for RMB2.45bln

* Shanghai Shimao conditionally agreed to acquire 100% equity interests in Hangzhou Shimao from Far Flourish for RMB1.55 billion Source text (bit.ly/2dINPbH) Further company coverage:

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