Beijing Hualian Is Said to Near Sale of Luxury SKP Malls to Boyu

Beijing Hualian Group Investment Holding Co. is in talks to sell itsbusiness that operates and develops luxury malls in China to Boyu Capital, according to people familiar with the situation.

The two are close to an agreement for the sale of the side of Beijing Hualian SKP Department Store Co.’s business that manages and operates the high-end malls, the people said. Beijing Hualian Group and Boyu are also discussing a sale of the actual mall properties that Hualian SKP oversees, the people said.

There are SKP malls in Beijing, Xi’an, Chengdu and Wuhan, and one under construction ...