China Evergrande Group’s property unit Hengda Real Estate has sold its controlling stake in China Calxon Group after holding it for less than 10 months.
Hengda Real Estate agreed to sell its 52.78 per cent shareholding in Zhejiang-based state-owned developer Calxon to another Evergrande subsidiary, Kailong Real Estate, which is also the parent of Hengda Real Estate, cashing out for a total of 6.2 billion yuan at 6.52 yuan per share.
In April 2016 Evergrande, one of the country’s…
Source : South China Morning Post
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