Ying Li stake a key step in China Everbright's growth plans
Published on Jul 1, 2014 6:40 PM
THE Chinese firm investing in Singapore-listed developer Ying Li International Real Estate sees the move as a key step in an ambitious growth strategy.
China Everbright Limited (CEL) will become Ying Li's second largest shareholder once the investment process is complete.
Mr James Pan, a member of CEL's management decision committee, said at a media briefing on Tuesday that Ying Li's strength in the booming city of Chongqing and its unique position among Chinese developers are key reasons behind the move.
He added that CEL intends to help Ying Li replace some of its debt and use fresh capital to help it acquire new land.
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