Merrill Lynch is reportedly exploring taking a stake in a property development in central Beijing, the South China Morning Post said, calling it a possible first for Merrill in China property. The target of its reported interest is an unspecified stake in Beijing Yintai Property, which was set up to develop Beijing Yintai Centre, which involves a 63-storey tower and a Hyatt hotel. The deal might also involve Merrill arranging loans of up to US$30m, the report said.
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