June 5 (NBD) -- China Fortune Land Development Co., Ltd. ("CFLD", 600340.SH), the country's industrial zone developer and operator, announced on Tuesday the plan to acquire a 49 percent stake in its subsidiary, Jiangmen Dingxing Industrial Park Construction and Development Co., Ltd., from Huaneng Guicheng Trust Co.,  Ltd. ("Huaneng Trust") for 1.613 billion yuan (251.4 million U.S. dollars).

CFLD shall make the payment to Huaneng Trust on June 27, 2018, according to the announcement.

After the deal, CFLD will hold a 100 percent stake in Jiangmen Dingxing Industrial Park Construction and Development.

Email: gaohan@nbd.com.cn