Cash-strapped Evergrande Group to sell $1.5 billion stake in Shengjing Bank to state firm

Shengjing Bank, one of the main lenders to Evergrande, had demanded that all net proceeds from the disposal be used to settle the financial liabilities of the property developer due to the lender, Evergrande said in an exchange filing.

from News-Economic Times https://ift.tt/3CXg38O