Money-strapped Evergrande Group to promote $1.5 billion stake in Shengjing Financial institution to state agency
[ad_1] Scrambling to keep away from defaulting on its money owed, cash-strapped China Evergrande Group stated on Wednesday it plans to promote a 9.99 billion yuan ($1.5 billion) stake in Shengjing Bank Co Ltd to a state-owned asset administration firm. Shengjing Financial institution, one of many essential lenders to Evergrande, had demanded that every one … Read more