News Snapshot:
(Deutsche Welle) The Chinese real estate giant Evergrande originally planned to sell a majority stake in its property management company for approximately US$2.6 billion, but it broke because of “there is no consensus among shareholders”. For Evergrande, which is in a debt crisis, it is undoubtedly a problem. It is worse, the transaction could have obtained an emergency fund for Evergrande in order to alleviate the financial emergency. China Evergrande said on the evening of Wednesday (20th) that it had previously planned to sell 50.1% of its profitable subsidiary Evergrande Property to a subsidiary of its competitor Hesheng Chuangzhan Group...
