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Private investment conglomerate to offload assets, repay debts

Chinese private investment conglomerate China Minsheng Investment said on Thursday that it has started to offload assets that were "no longer considered suitable for the company's strategic direction" to address the liquidity crunch.

The assets includes to be sold includes two land plots in the heart of financial centre in Shanghai which was bought in 2014 at a record price and Greenland Group is likely to be the buyer, according to several local media reports.

The CMIG missed debt repayment on January 29th. Three bonds issued by the company were halted from trading on the Shanghai Stock Exchange on . . .

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