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

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.