https://pandaily.com/everg...
Forty-three days after the pre-sale of its Hengchi 5 model began, Evergrande Auto is reportedly to be acquired by another automobile company, and this acquisition may be led by the local government, Jiemian News reported on August 17.
Hong Kong property developer Evergrande Group, parent of Evergrande Auto, is facing mounting debt pressures and was hoping that its automobile subsidiary could somehow save the group. One person familiar with the matter said that the M&A is a government act, and the parties involved are still discussing the deal.
Due to the financial problems of the group and the continuous losses of Evergrande Auto, Evergrande Group announced in August last year that it was “contacting several potential independent third-party investors to discuss the sale of some of its assets”, including Evergrande Auto. However, this discussion has not achieved any substantive results.
In Octob
Forty-three days after the pre-sale of its Hengchi 5 model began, Evergrande Auto is reportedly to be acquired by another automobile company, and this acquisition may be led by the local government, Jiemian News reported on August 17.
Hong Kong property developer Evergrande Group, parent of Evergrande Auto, is facing mounting debt pressures and was hoping that its automobile subsidiary could somehow save the group. One person familiar with the matter said that the M&A is a government act, and the parties involved are still discussing the deal.
Due to the financial problems of the group and the continuous losses of Evergrande Auto, Evergrande Group announced in August last year that it was “contacting several potential independent third-party investors to discuss the sale of some of its assets”, including Evergrande Auto. However, this discussion has not achieved any substantive results.
In Octob
03:02 AM - Aug 18, 2022
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