Ascott REIT Completes China Subsidiary Divestment
May 28, 2021 – Ascott REIT announced that it has completed its planned divestment of its interests in Shanghai Xinwei Real Estate Development Co. Ltd., Somerset Xuhui Shanghai.
In early February, Ascott REIT said that through its wholly owned subsidiary, Glenwood Properties Pte. Ltd., has entered into a conditional sale and purchase agreement to divest the property.
On completion, Shanghai Xinwei Real Estate Development Co. Ltd. has ceased to be a subsidiary of Ascott REIT.
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