China Evergrande says stake sale at property services unit terminated

China Evergrande says stake sale at property services unit terminated

FILE PHOTO: The China Evergrande Centre building sign is seen in Hong Kong, China. August 25, 2021. REUTERS/Tyrone Siu/File Photo

China Evergrande Group said on Wednesday a deal to sell a 50.1% stake in its property services unit has fallen through, delivering a blow to embattled developer’s hopes of avoiding a potentially disruptive default.