Chinese real estate portal Fang Holdings (SFUN) has announced it will be terminating its proposed acquisition of a controlling stake in Chongqing Wanli New Energy.
Last year Fang Holdings, which operates a leading Beijing-based property portal, issued an announcement stating that Chonqing Wanli, which manufacturers storage batteries was “exploring avenues” to terminate the ‘Restructuring’.
In a press release Fang Holdings said the transacting parties agreed to terminate the Restructuring in light of substantial regulatory uncertainties in China.
Fang operates the leading real estate Internet portal in China in terms of the number of page views and visitors to its websites. Through its websites, the company provide e-commerce, marketing, listing, financial and other value-added services for China’s fast-growing real estate and home furnishing and improvement sectors.
