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SCMP Reporter

The provisional liquidators of Peregrine Investments Holdings said yesterday that the Land Development Corp had approved the transfer of Peregrine's stake in an urban renewal project in Wan Chai to an associate of Chinese Estates.

 Price Waterhouse said the approval was obtained on Thursday and the transaction was concluded the same day.

 Peregrine has a 15 per cent stake in the Wan Chai urban renewal development, while 40 per cent is held by Chinese Estates.



Stake shift agreed