Troubled China Evergrande transferred stake in several projects for debt relief

china evergrande group

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Embattled property developer China Evergrande Group recently transferred its stake in several project companies to partners as part of its efforts reduce debts.

An Evergrande unit in Kunming, southwestern China's Yunan province, transferred its entire stake in Kunming Hengtuo Estates to Minmetals International Trust Co. Ltd. on January 13, at a valuation of 50 million yuan, according to public records.

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