Chinese luxury property developer Sunac (1918.HKG) is in talks to buy up to 30% of Greentown (3900.HKG), Bloomberg reported. Sunac, which is part owned by buyout firm Bain Capital, is in discussion with three of Greentown’s shareholders, including Chairman Song Weiping and Chief Executive Officer Shou Bainian, according to two statements from the companies to the Hong Kong stock exchange on Thursday. No agreement has been signed, they said. Developers including China Vanke (00002.SHE) and Greentown have cut property prices since March to lure homebuyers, according to China Real Estate Information Corp.
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