[ET Net News Agency, 9 November 2020] China Evergrande Group (03333) said it has
resolved to terminate the reorganisation plan with Shenzhen Real Estate.
Of the RMB130 billion equity interests held by strategic investors, strategic investors
holding equity interests of RMB86.3 billion have already entered into supplemental
agreements under which the investors agreed not to require the repurchase of their equity
interests and will continue to hold their interests in Hengda Real Estate; negotiations
with strategic investors holding RMB35.7 billion equity interests have been completed, and
supplemental agreements will be entered into soon, and negotiations with strategic
investors holding RMB5 billion are in progress, as it would involve the asset
restructuring of their own major shareholders. The group has paid the principal of the
remaining strategic investors holding RMB3 billion equity interests in Hengda Real Estate,
and will repurchase their equity interests. (RC)
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03333 EVERGRANDE
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0.163 0.000 (0.000%) Others
09/11/2020 10:41
Evergrande (03333) terminates reorganisation plan
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