Liquidators for the delisted mainland property group China Evergrande Group have received non-binding offers for a property management unit they have been seeking to offload, according to a Hong Kong Stock Exchange filing on Thursday night, reports the South China Morning Post. Evergrande Property Services Group (EPS) said in the filing it had received an approach letter from Evergrande’s liquidators and entered into confidentiality agreements for a potential transaction that could see the developer sell its stake in the property services arm.
Evergrande’s liquidators control a 51% holding in EPS, according to the filing. The company has a market value of about HK$9.95 billion ($1.28 billion), LSEG data showed.
The filing said the group had received non-binding indicative offers from some of these potential parties as of September 9.