Chinese Estates Holdings , a major shareholder of embattled developer China Evergrande , said on Wednesday it had proposed to be taken private by Solar Bright Ltd for HK$1.91 billion ($245.30 million).
Following the completion of the proposed deal, the entire stake in the company will be held by British Virgin Islands-based Solar Bright and its Century Frontier and JLLH Investments subsidiaries.
Chinese Estates shares will be delisted from the stock exchange and its shareholders will be paid HK$4.00 in cash for each cancelled share, the company said.The company has been planning to offload its entire stake in the cash-strapped developer and had recently sold $32 million worth of Evergrande shares.Sign up for our newsletter
Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Chinese property developers' ability to repay debt hits decade lowEven before China Evergrande Group's debt crisis sent the country's property sector into a tailspin, Chinese property firms were struggling to earn enough to make interest payments on their debt, data showed.
Les mer »
Another Chinese property developer is in crisisAnother Chinese developer fell into crisis after failing to repay a bond, adding to the strains of the nation’s heavily leveraged property firms amid China Evergrande’s debt woes.
Les mer »
Nike Shareholders Ask for More Transparency Around Diversity EffortsSome shareholders want pay and hiring data along racial and gender lines at Wednesday’s shareholder meeting.
Les mer »
U.S. Senate Democrats plan debt-limit vote after Biden hints filibuster could goSenate Democrats are set to try again on Wednesday to extend the U.S. government's borrowing authority to head off a catastrophic default, after President Joe Biden suggested they could change the chamber's rules to bypass a Republican roadblock.
Les mer »
U.S. Senate Democrats plan debt-limit vote, Biden hints filibuster could goSenate Democrats are set to try again on Wednesday to extend the U.S. government's borrowing authority to head off a catastrophic default, after President Joe Biden suggested they could change the chamber's rules to bypass a Republican roadblock.
Les mer »
Facebook Will Likely Resume Work On Instagram For Kids, Whistleblower Tells CongressFacebook has paused its Instagram for Kids project, but a former company executive told the Senate she expects Facebook can't let the plan go.
Les mer »