15 Feb Chinese property developer CIFI to offload Australian assets at a loss in bid to inject cash as credit dries up
Posted at 06:00h
in Asia
CIFI Holdings has agreed to sell a 60 per cent stake in 16 parcels of land in Sydney to an Australian company for A$66.3 million (US$42.9 million), booking an estimated loss of A$11.1 million in the process, the distressed Chinese developer said.This is the third...
