The construction site of Guangzhou Evergrande Soccer Stadium, a new stadium for the Guangzhou FC developed by China Evergrande Group, on September 26, 2021. Photo: Reuters.
The construction site of Guangzhou Evergrande Soccer Stadium, a new stadium for the Guangzhou FC developed by China Evergrande Group, on September 26, 2021. Photo: Reuters.

Evergrande’s fire sale continues as founder Hui Ka-yan disposes of corporate and personal assets to avert defaulting on debt

  • Evergrande last week sold the Dutch electric motor maker e-Traction to Saietta Group at a 97 per cent discount to its 2019 purchase price
  • With more than US$300 billion in total liabilities, Evergrande has so far averted default three times, coming up with capital to pay its overdue coupons and interests

The construction site of Guangzhou Evergrande Soccer Stadium, a new stadium for the Guangzhou FC developed by China Evergrande Group, on September 26, 2021. Photo: Reuters.
The construction site of Guangzhou Evergrande Soccer Stadium, a new stadium for the Guangzhou FC developed by China Evergrande Group, on September 26, 2021. Photo: Reuters.
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