Tender to sell Evergrande's Hong Kong headquarters to close on Oct 31
Reuters
Published Sep 25, 2022 10:42PM ET
HONG KONG (Reuters) - A tender sale of China Evergrande Group's headquarters in Hong Kong will close on Oct. 31, real estate services firm Savills said, appointed by receivers to dispose of the asset.
Lenders of struggling Evergrande appointed receiver Alvarez and Marsal earlier this month to seize the China Evergrande Center in Hong Kong, a Companies Registry filing showed, as the world's most indebted developer struggles to emerge from its debt crisis.
Savills said in a statement on Sunday the sale of the 27-storey office tower in the Wan Chai district will include existing tenancies.
Saddled with more than $300 billion in liabilities, Evergrande has been trying to sell the headquarters since the second half of last year as part of the asset disposal effort to raise funds but did not see any success.
Reuters reported in July, citing sources, that Evergrande was looking to sell the tower via a tendering process but the offers were too low at below HK$10 billion ($1.27 billion), compared to its purchase price of $12.5 billion in 2015.
Evergrande declined to comment.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.