China

Kaisa Group Plans to Acquire a 17.7% Stake in Nam Tai Property for US$ 110 Mln

Summary:

  • Kaisa Group (1638.HK) has recently announced plans to acquire a 17.7% stake in Nam Tai Property Inc. (NTP.NYSE) for US$ 110 million in cash, as reported by Jrj.

Why It Matters:

  • Based in China, Nam Tai Property is mainly engaged in property management and development. The company posted a net loss of US$ 9.53 million for 2016.
  • Nam Tai Property’s main assets are several large land lots in Shenzhen City and the company plans to build a Research & Development Park on these lots.
  • Kaisa Group is a leading Hong Kong-based real estate developer. The company wishes to indirectly participate in the development of the Shenzhen Research & Development Park.