Wharf's China spree set to pay off

Wharf (Holdings) is looking forward to reaping the benefits of an aggressive acquisition binge on the mainland that has expanded its land bank to 18 million square metres since 2007.

Last year, the conglomerate accelerated its investment in the mainland by acting as a white knight to rescue financially troubled Greentown China.

Through a deal involving 5.1 billion yuan (HK$6.3 billion) of shares and convertible notes, Wharf will hold a 24.6 per cent stake in the mainland developer that could be increased to 35.1 per cent if it converts the notes.

via Business feed http://www.scmp.com/business/companies/article/1205079/wharfs-china-spree-set-pay