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- China Evergrande's (OTCPK:EGRNF) liquidator is in talks with a third-party buyer to sell a stake in the troubled property developer's electric vehicle unit.
- This news led to a rise in Hong Kong-listed China Evergrande New Energy Vehicle Group shares about 87%.
- if After the deal is completed, the buyer will receive a stake of about 29% in the electric car maker, with an option to acquire an additional 29.5%, according to the company. disclosure.
- The potential buyer may also offer a new line of credit to support electric vehicle production, which was halted earlier this year.
- Evergrande ( OTCPK:EGRNF ), Evergrande Health Industry and Acelin Global together own about 58.5% in China's new energy vehicle group Evergrande ( OTCPK:EVGRF ).
- Evergrande (OTCPK:EGRNF), the world's most indebted property developer, was ordered into liquidation in January because it failed to come up with a restructuring plan two years after it defaulted on its foreign debt.