,Hong Kong

Swire Pacific sells Festival Walk shopping center to Singapore firm

The HK$18.8b sale is the biggest ever for Swire Pacific.

A Bloomberg report said, “Swire will record a profit of HK$1.6b from the sale with a book value of HK$17.2b at the end of 2010.”

The commercial complex is being sold to Mapletree Investments, a unit of Temasek.

View the report here.

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