A proposed deal to sell the property management of indebted Chinese real estate developer Evergrande has collapsed, the Financial Times reported on Thursday.
A plan to sell 50.1% Evergrande Property Services Group to fellow developer Hopson Development Holdings for HK$20 billion ($2.6 billion) had been terminated last week, according to a Hong Kong stock exchange filing late on Wednesday.
The difficulties facing Evergrande, the world’s most indebted property developer with more than $300 billion in liabilities, has prompted global concern over China’s vast real estate sector. The company’s shares have been halted for much of October.
Read the full story: Financial Times
READ MORE:
China Officials Play Down Risk of Evergrande Spilling Over
The post Plan to Sell Evergrande Unit Falls Through: FT appeared first on Asia Financial.
0 Commentaires