Bach Kim Real Estate Company Limited agreed to acquire Aqua City project from VinaLand Limited (AIM:VNL) for $45.2 million on June 13, 2018. As per the terms, VinaLand is divesting its entire stake for net cash proceeds of $45.2 million which includes the repayment of shareholder loans.  At the time of this announcement, $40.5 million or 89.6% of the net proceeds have been received by VinaLand, and it is expected that all proceeds will be received by VinaLand by the end of June 2018. The proceeds received from this disposal will, in conjunction with those collected from recent disposals will be used to cover , VinaLand 's commitments including operating costs, capital contributions and further distributions to shareholders.