Vanke to buy Russia developer: source

Updated 2017-09-28 10:01:04 Global Times

O1 Properties, one of the largest investment companies in office real estate in Moscow, is in talks with Chinese developer Vanke Group about a potential stake sale, a source close to the talks told Russia's media company RBC, domestic news site thepaper.cn reported on Tuesday.

Vanke declined to comment when reached by the paper.cn.

A source close to the talks told Reuters on Tuesday that O1 Properties and Vanke are talking about a stake of up to 51 percent in the Russian company.

O1 Properties owns and manages 15 business centers in Moscow worth around billion, according to the company. The source said O1 wants to raise cash for new acquisitions, Reuters reported.

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