HONG KONG—China Evergrande Group said on Friday it sold stakes and “right to debt” in four developments to two state-owned trust firms for 2.13 billion yuan ($337.35 million), in a move to ensure their construction goes ahead as well as delivery of its other projects. The world’s most indebted property developer is struggling to complete projects and homes while weighed down by its more than $300 billion in liabilities. Evergrande said it sold its stake and right to debt in a residential development in Chongqing and Dongguan to Everbright Trust for 1.03 billion yuan, as well as those in a housing project in Foshan and a theme park development in Guangzhou to Minmetals Trust for 1.1 billion yuan. The right to debt means the buyers take on debt linked to the project. The trust firms are part of China’s so-called shadow banking sector. The trust firms will be responsible for …
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta