Home Retail LeEco secures over US $2 bn investment from Sunac

LeEco secures over US $2 bn investment from Sunac

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Chinese Internet and technology conglomerate has secured over US $2 billion in investment from real estate developer , media reports said.

LeEco secures over US  bn investment from Sunac
Sunac also plans to acquire a 33.5 per cent stake by investing USD 1.15 billion in LeEco's television hardware subsidiary Leshi Zhixin Electronic Technology

Through this investment Sunac would acquire 8.61 per cent stake in LeEco’s Shenzhen-listed unit , Beijing.

“The company believes that the investment will bring a better return on capital for the company and will have greater room for cooperation with Leshi in the field of industrial real estate, and will also bring continued benefits to the further growth of the company’s property business,” South China Morning Post quoted Sunac Chairman , as saying.

Sunac also plans to acquire a 33.5 per cent stake by investing US $1.15 billion in LeEco’s television hardware subsidiary .

In November 2016, LeEco announced receiving US $600 million in funding from Chinese institutional investors.