China Evergrande Group lost control of some of its property projects around the country, as several state-owned developers picked away at its assets while the heavily indebted builder teeters on the brink with more thanUS$300 billion of total liabilities.Evergrande Fairyland, a theme park subsidiary in the Nansha district of the Guangdong provincial capital of Guangzhou was completely taken over on January 26 by the China Minmetals Group’s Minmetals International Trust, according to the…
Source : South China Morning Post
Read more…Evergrande is losing some property projects as China’s state-owned companies pick away at the assets of world’s most indebted developer
