Evergrande liquidators enter exclusive talks to sell majority stake in property services arm
A general view of residential buildings developed by China Evergrande Group, after a court ordered the liquidation of the property developer, in Beijing, China January 29, 2024. REUTERS/Florence Lo
April 14 : Chinese property developer Evergrande Group's liquidators have entered an exclusivity agreement with a selected bidder to sell its majority stake in its property management unit, an exchange filing showed on Tuesday.
The parties have now agreed to conduct exclusive negotiations for the stake sale for a period of 30 business days, with discussions ongoing, according to the statement.
No further details about the identity of the bidder or the estimated deal amount were disclosed.
Evergrande Property Services disclosed in September last year that its parent's liquidators had received indicative bids for a majority stake in the unit.
