By Chester Yung
HONG KONG--Chinese real-estate developer Agile Group Holdings Ltd. (3383.HK) said it intends to acquire the stake it doesn't already own in one of its subsidiaries, Crown Golden Investments Ltd., for $900 million.
Hong Kong-listed Agile said late Wednesday that wholly owned unit Forever Fame Property Development Holdings Ltd.--which already holds a 70% stake in Crown Golden--plans to acquire the remaining 30% stake by buying its current holder, Crystal I Ltd., Agile said.
Agile said the deal, if completed, would enhance its position in China's property market. Crown Golden is involved in the development of a tourism property project in Hainan,Agile said.
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(END) Dow Jones Newswires
April 19, 2017 07:16 ET (11:16 GMT)
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