China's Baosteel Pays $136M To Buy Out 3 Venture Partners

Law360, New York (April 18, 2012, 3:49 PM EDT) -- State-owned Shanghai Baosteel Group Corp. on Wednesday bought out the stakes of Hong Kong-based developer K. Wah International Holdings Ltd. and two partners in a Chinese property joint venture for 858.8 million yuan ($136.3 million).

K. Wah, Mitsubishi Corp. and Tokyu Corp. unloaded a combined 58.5 percent interest in the joint venture company Shanghai Baoland, according to a transaction disclosure statement K. Wah filed Wednesday with the Hong Kong Stock Exchange.

K. Wah did not say when the cash deal, which is subject to government review,...
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