New Worl baseball jerseys d China to increase stake in Shanghai Trio Property

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New World China to increase stake in Shanghai Trio PropertyPublished: 04 May 2009 00:26:29 PST<p class="authorInfor"]</p]<!--begin CK content--]<ul class="narrow"]Top 5 News From ChinaKnowledge.comBYD Electronic to buy handset charger business from BYDHang Seng Index opens 348 points higher on Mon1st home-grown jumbo jet to take maiden flight in 2014China's CGNPC, Kazakhstan sign nuclear power agreementHang Seng Index finishes 4.18% higher at middayMay 4, 2009 (China Knowledge) - New World China Land Ltd<0917>, an investment holding company engaged in investment and development of property projects, said that it has agreed to spend HK$523.3 million to increase its equity interest in Shanghai Trio Property Development Co Ltd.

New World Development Ltd<0017>, which owns a 71% stake in New World China, said in a statement that it plans to purchase the remaining 52.5% stake in Shanghai Trio Property Development Co Ltd from its executive director, William Doo.

After the deal, Shanghai Trio Property will become a wholly-owned unit of New World China, the statement said, adding that New World China will thus obtain the controlling rights to the Shanghai Zhongshan Square project, which covers a construction area of 113,000 square meters.

The company also said it has agreed to sell a 50% stake in Shanghai Juyi Real Estate Development Co Ltd to William Doo for HK$953.2 million.

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