China Evergrande reaches deal with investors, moves toward avoiding cash crunch

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China's Evergrande Group, the world’s most indebted developer, on Tuesday said that it reached an agreement with a group of strategic investors, a major step toward avoiding a cash crunch that had threatened to roil the country's financial system.

China's Evergrande reached a deal with investors holding 86.3 billion yuan of its unit to not ask the indebted property developer to repurchase their holdings, the company said.

That group represents the majority of the 130 billion yuan in shares held by strategic investors in its Hengda Real Estate unit, who . . .

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