Swire Properties to acquire Taikoo Li Chengdu mall from Sino-Ocean Group for $796m.

Swire Properties, a property developer, owner and operator of mixed-use, principally commercial properties in Hong Kong and Mainland China, agreed to acquire Taikoo Li Chengdu mall from Sino-Ocean Group, an investment holding company, for $796m. The acquisition will contribute immediate income and create long-term value for shareholders, the firm added. The transaction will be completed over three phases, with the first expected to take place after signing of the agreement and the final phase by April next year.