Evergrande’s property service unit pays US$233 million to buy a rival to meet target of increasing 2020 profit by 50 per cent

//Evergrande’s property service unit pays US$233 million to buy a rival to meet target of increasing 2020 profit by 50 per cent

Evergrande’s property service unit pays US$233 million to buy a rival to meet target of increasing 2020 profit by 50 per cent

China Evergrande Group’s property services unit bought a rival firm for 1.5 billion yuan (US$233 million) to help meet its ambitions of increasing profit by 50 per cent this year and becoming the country’s largest property manager.Evergrande Property Services Group agreed to buy Ningbo Yatai Hotel Property Services, adding 940 projects serving two million homeowners to its portfolio, the company said in a statement Friday. Ningbo Yatai also manages office buildings and industrial parks.The deal…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2021-01-30T12:19:41+00:00 January 30th, 2021|Business|Comments Off on Evergrande’s property service unit pays US$233 million to buy a rival to meet target of increasing 2020 profit by 50 per cent