CIFI Holdings to Form Joint Venture With Henderson's Unit to Develop Residential Projects in Suzhou

By Chester Yung Features Dow Jones Newswires

CIFI Holdings (Group) Co. Ltd. (0884.HK) said late Sunday it has agreed to from a joint venture with a unit of Henderson Land Development Co. Ltd. (0012.HK) to develop two residential projects in Suzhou, in a bid to achieve synergy benefits and diversify its financial exposure.

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Henderson China Properties Ltd. will hold 49% stake in the joint venture, while CIFI will own the remaining 51% through its unit Suzhou Huizhe Business Consultancy Co. Ltd, the Hong Kong-listed developer said.

Write to Chester Yung at chester.yung@wsj.com

(END) Dow Jones Newswires

July 02, 2017 22:03 ET (02:03 GMT)