CR Land to Integrate Mainland Operations.

(From SinoCast China Financial Watch)

HONG KONG, November 25,. 24, SinoCast -- China Resources Land Limited (1109.HK) announced it would acquire three commercial property projects and a 21.53 percent stake in CR Land (Beijing) from its parent to consolidate its operations in mainland China. CR Land will pay HKD 3.195 billion in all, a 35.7 percent discount to the acquisitions' market value of HKD 5.2 billion at the end of August. The three transacted properties are China Resources Building in Beijing, China Resources Times Square in Shanghai and City Crossing Phase 1 in Shenzhen. For the payment, the company plans to issue 1.26 billion new shares at a price of HKD …