HONG KONG : China Evergrande Group's deal to sell a 51per cent stake in its property services unit has been put on hold, two people with knowledge of the matter said, in a blow to the embattled developer's hopes of avoiding a potentially disruptive default.
Evergrande, teetering on the brink of collapse with more than US$300 billion in debt, was in talks to sell the stake in Evergrande Property Services to smaller rival Hopson Development Holdings for around HKUS$20 billion , sources have previously told Reuters. However, the deal has been put on hold as it has yet to win blessings from the Guangdong provincial government, which is overseeing Evergrande's restructuring, one of the people said on Tuesday.
It's not immediately clear why the provincial government has not approved the transaction. Some offshore creditors of Evergrande also opposed the deal, the person added. When contacted, a Hopson representative asked Reuters to await an announcement. Evergrande and the Guangdong provincial government did not immediately respond to Reuters requests for comment.Source: Reuters
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Angry Inter face key moment against high-flying Sheriff – InzaghiMILAN : Inter Milan will not underestimate surprise package Sheriff Tiraspol when they travel to San Siro for a crucial Champions League clash, coach Simone Inzaghi said on Monday. The Moldovans have enjoyed a stunning start to their debut campaign in the competition, beating Shaktar Donetsk and Real Madr
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Angry Inter face key moment against high-flying Sheriff – InzaghiMILAN : Inter Milan will not underestimate surprise package Sheriff Tiraspol when they travel to San Siro for a crucial Champions League clash, coach Simone Inzaghi said on Monday. The Moldovans have enjoyed a stunning start to their debut campaign in the competition, beating Shaktar Donetsk and Real Madr
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Sydney eases more COVID-19 restrictions as vaccinations pass key milestoneSYDNEY: Thousands of children returned to Sydney\u0027s schools on Monday (Oct 18) after nearly four months of home learning as Australia\u0027s largest city eased more restrictions just a week after lifting its COVID-19 lockdown amid a surge in vaccination levels. A faster-than-expected vaccine uptake brought forwa Muhammad Qasim telah melihat bahawa ketika umat Islam sibuk dengan kehidupan mereka sendiri, kekuatan anti-Islam akan merancang rancangan utk menghancurkan Islam. Diantara 3 negara yg melindungi Islam, 2 akan jatuh (Turki & Arab Saudi).Ketahui hal ini di
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Sydney eases more Covid-19 restrictions as vaccinations pass key milestoneSYDNEY — Thousands of children returned to Sydney's schools on Monday (Oct 18) after nearly four months of home learning as Australia's largest city eased more restrictions just a week after lifting its Covid-19 lockdown amid a surge in vaccination levels.
Source: TODAYonline - 🏆 1. / 99 Read more »
Woman jailed for throwing unfaithful boyfriend’s television, speaker from 50th-storey condo unitSINGAPORE — A week after her boyfriend confessed to cheating on her, Maria Isabel Lluen Saenz told him she no longer wanted to be with him and threw some of his belongings from the balcony of their 50th-storey condominium unit in Marina Bay. and he didnt get jailed for hitting her? Maria Isabel Lluen Saenz’s then-boyfriend had cheated on her during trips to Batam, Indonesia. The couple have since gotten married. Read the full story:
Source: TODAYonline - 🏆 1. / 99 Read more »