HK-listed business park operator Yida to buy out JV partner Sumitomo for $427m

HK-listed business park operator Yida to buy out JV partner Sumitomo for $427m

Yida China Holdings's project in Beijing, China

Hong Kong-listed business park operator Yida China Holdings has entered into an agreement with Japanese property developer Sumitomo Realty & Development (Sumitomo R&D) to acquire the latter’s 75 per cent stake in their Dalian-headquartered joint venture for as much as 3.03 billion yuan ($427 million).