Announced
Financials
Sources
Tags
China
property development
Friendly
Minority
Pending
Domestic
Private
Real Estate Holding and Development
Acquisition
Single Bidder
Synopsis
Shenzhen Huajian, a holding company, agreed to acquire a 29.9% stake in Calxon, a real estate developer, from Evergrande Group, a debt-laden property developer. Financial terms were not disclosed. Evergrande and its units have come under pressure due to growing liquidity concerns. Earlier this month, China’s most indebted property developer said it was arranging payment for some of its project companies’ commercial paper that had not been repaid on time.
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