China Evergrande rival Hopson Development Holdings Limited, which had sought to buy half of the embattled developer’s property management unit, still considers the purchase agreement “legally binding” despite Evergrande rescinding the sale on October 12, according to a company filing with the Hong Kong stock exchange.“Having sought legal advice, the company considers the agreement legally binding and the acquisition is not subject to the fulfilment of any conditions precedent,” Hopson said in a…
Source : South China Morning Post
Read more…Hopson says it considers agreement to buy Evergrande unit to be ‘legally binding’ despite cancellation
