International
China Evergrande Liquidators Enter Exclusive Talks to Sell Majority Stake in Property Services Arm
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.
April 14: The parties have agreed to conduct exclusive sale negotiations for a period of 30 business days.
Key Details
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Stake for sale: 51.016% of the property services unit
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Bidder identity: Not disclosed
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Estimated deal amount: Not disclosed
Valuation History
| Year | Market Cap |
|---|---|
| 2020 (debut) | >HK$94 billion (>$12 billion) |
| 2021 (peak) | ~HK$200 billion |
| April 14, 2026 | HK$13.19 billion |
Related Development
The announcement came on the heels of the group's founder, Hui Ka Yan , pleading guilty to eight charges including misuse of funds, earlier in the day.
Background
China Evergrande once embodied its name, rising to become the country's premier property developer and floating in Hong Kong in 2009 in the largest listing by a Chinese private developer. However, it later amassed the biggest debt pile in the global property industry, defaulting since 2021 on most of its $300 billion in liabilities.