:China Evergrande Group said on Thursday its unit will sell its entire share stake in HengTen Network Holdings for HKUS$2.13 billion .
Evergrande, the world's most indebted developer, has been stumbling from deadline to deadline in recent weeks as it grapples with more than US$300 billion in liabilities, US$19 billion of which are international market bonds. The property developer's unit entered into an agreement with Allied Resources Investment Holdings Ltd to sell 1.66 billion HengTen shares at HKUS$1.28 per share, at a discount of 24per cent to its closing price on Wednesday.
The company added that 20per cent of the deal consideration will be payable within five business days from the date of the agreement, while the remaining will be completed within two months, according to a Hong Kong stock exchange filing.
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