Swire Pacific is seeking to sell Festival Walk, a Hong Kong shopping and commercial complex, to Singapore-based Mapletree Investment, The Wall Street Journal reports. The real estate unit of the Hong Kong-based company will get a total of $2.41 billion from the sale. The seller will use the proceeds from the sale for general working capital requirements. Swire acquired the remaining 50% stake in Festival Walk from Chinese conglomerate CITIC Pacific in 2006 by paying $792.8 million.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.