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

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.

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.

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(END) Dow Jones Newswires

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