Troubled Chinese conglomerate CEFC puts entire property portfolio up for sale, sources say
Almost 100 projects with a combined value of US$3.2 billion on offer as firm comes under increased government scrutiny
CEFC China Energy Co, the sprawling conglomerate that has come under increasing government scrutiny, plans to sell its entire global property portfolio with a combined book value of more than 20 billion yuan (US$3.2 billion), according to people familiar with the matter.
Almost 100 projects are up for sale, including office buildings, hotels, flats and industrial facilities, said the people, who asked not to be identified because the deliberations have not been publicly disclosed.
The properties, mostly located in big Chinese cities, include a smattering of developments in Europe and the United States, including a condominium at the Trump World Tower in Manhattan, the people said.
