Evergrande Property Services enters exclusivity deal over potential share sale
Evergrande Property Services said China Evergrande Group and controlling shareholder CEG Holdings have entered an exclusivity agreement with a selected bidder for a potential sale of their shares, totalling 51.016%, with exclusive negotiations until Oct 27.
Sept 30 (Reuters) — Evergrande Property Services on Wednesday said China Evergrande Group and CEG Holdings (BVI), its controlling shareholders, have entered an exclusivity agreement with a selected bidder for a potential sale of their shares in the company. Here are some more details: China Evergrande Group, once China's premier developer, has defaulted on most of its $300 billion liabilities and is currently managed by liquidators. 016%. The parties have agreed to conduct exclusive negotiations in relation to the potential transaction for a period ending on October 27, Evergrande Property Services said.
Negotiations are ongoing and parties have not entered any formal agreement, the property services unit added. Evergrande Property Services did not disclose the details of the selected bidder. com;)