China Evergrande Group scrapped the sale of its property management unit to a rival, as its asset disposal plan was rebuffed for the second time in a week just before a 30-day grace period runs out for declaring the world’s most indebted developer in default.An October 1 bid to buy 50.1 per cent of Evergrande Property Services for HK$20.04 billion (US$2.6 billion) failed to materialise because Evergrande rescinded the sale on October 12, according to a late-night filing by the purchaser Hopson…
Source : South China Morning Post
Read more…Evergrande scraps US.6 billion sale of property services unit to Hopson, suffering a second rebuff to its asset disposal in a week
