Wengen Ling/E+ via Getty Images
- China Evergrande (OTCPK:EGRNF) liquidators are in talks with a third-party buyer to sell a stake in the troubled property developer's electric vehicle unit.
- The news sent Hong Kong-listed shares of China Evergrande New Energy Vehicle Group soaring. about 87%.
- Yeah Once the deal closes, the buyer would take a stake of around 29% in the electric vehicle maker, with an option for a further 29.5%, according to one company. divulgation.
- The potential buyer could also provide a new line of credit to support electric vehicle production, which was halted earlier this year.
- Evergrande (OTCPK:EGRNF), Evergrande Health Industry and Acelin Global together own about 58.5% of China Evergrande New Energy Vehicle Group (OTCPK:EVGRF).
- Evergrande (OTCPK:EGRNF), the world's most indebted real estate developer, was ordered into liquidation in January because it failed to come up with a restructuring plan two years after its offshore debt default.
