The Swedish electric vehicle unit of China Evergrande Group is in talks with U.S. and European venture capital firms and industrial partners to find new owners, its top chief said, as its Chinese parent battles default on more than $300 billion in debts.
The Swedish electric vehicle unit of China Evergrande Group is in talks with U.S. and European venture capital firms and industrial partners to find new owners, its top chief said, as its Chinese parent battles default on more than $300 billion in debts.
Shares and bonds of Chinese real estate companies slid on Thursday, reflecting uncertainty about how a debt crisis will play out at China Evergrande Group and the wider property sector as another developer was hit by a rating downgrade.
Heavily indebted property developer China Evergrande Group owes the equivalent of $28 million for land in the northeastern city of Changchun it bought in June, municipal authorities said.
Shares and bonds of Chinese real estate companies slid on Thursday, reflecting uncertainty about how a debt crisis will play out at China Evergrande Group and the wider property sector as another developer was hit by a rating downgrade.