Chinese Estates agrees to sell 49 per cent Grandday Group stake

Chinese Estates Holdings said on Thursday it had agreed to sell its stake in a China property development project for US$500 million, in a bid to increase its cash reserves given a challenging macroeconomic environment.

via Business feed http://www.scmp.com/business/companies/article/1030575/chinese-estates-agrees-sell-49-cent-grandday-group-stake