China Evergrande's $7 billion property-management unit said it could be the subject of a takeover bid, potentially bringing in much-needed cash for its ailing parent company
The $7 billion property-management unit of ailing developer China Evergrande Group said it could be the subject of a takeover bid, a deal that could bring in much-needed cash for its parent company.
Shares in both Evergrande and its management arm, Evergrande Property Services Group Ltd., were halted in Hong Kong on Monday. The subsidiary said the halt was pending an announcement concerning “inside information and a possible general offer for the shares of the company.”
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