Hui Ka-yan, founder and chairman of China Evergrande Group, has stepped up the disposal of his corporate and personal assets to help the world’s most indebted developer stave off defaults as the company faces US$366 million of interest payments this year.That included the Dutch electric motor maker e-Traction, sold last week to Saietta Group based in the UK last week for €2 million (US$2.3 million), a staggering 97 per cent discount on the March 2019 purchase price of 500 million yuan (US$78.4…
Source : South China Morning Post
Read more…Evergrande’s fire sale continues as founder Hui Ka-yan disposes of corporate and personal assets to avert defaulting on debt
