Billionaire steps in to rescue China’s ailing Evergrande
Al Jazeera · 4 years ago
Al Jazeera
4 years ago
Chus are the latest billionaire family to offer help Evergrande, with a 51 percent stake purchase offer. The Hong Kong-listed real estate firm has agreed to buy a controlling stake in Evergrande’s property services business. Investors are worried that the housing giant Evergrande Group might collapse, causing global shockwaves.
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Evergrande Default
Chinese property giant Evergrande is facing the prospect of bankruptcy, reportedly unable to pay off its multi-billion dollar debts.