Chinese language realtor’s $300-billion debt: Evergrande CEO in restructuring, asset sale talks

Chinese language realtor’s $300-billion debt: Evergrande CEO in restructuring, asset sale talks

[ad_1] Evergrande Group’s chief govt is holding talks in Hong Kong with investment banks and collectors over a attainable restructuring and asset gross sales, two individuals stated, because the Chinese language developer battles in opposition to default on greater than $300 billion in money owed. CEO Xia Haijun, a confidant of chairman Hui Ka Yan … Read more

Money-strapped Evergrande Group to promote $1.5 billion stake in Shengjing Financial institution to state agency

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