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Announced

Shenzhen Huajian to acquire a 29.9% stake in Calxon from Evergrande Group.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For30%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Sources

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Tags

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China

property development

Friendly

Minority

Pending

Domestic

Private

Real Estate Holding and Development

Acquisition

Single Bidder

Synopsis

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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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