Evergrande sells four projects to state-owned firms for $337m

Evergrande sells four projects to state-owned firms for $337m

FILE PHOTO: An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip/File Photo/File Photo

China Evergrande Group said on Friday it sold stakes and “right to debt” in four developments to two state-owned trust firms for 2.13 billion yuan ($337.35 million), in a move to ensure their construction goes ahead as well as delivery of its other projects.