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China Evergrande Group's liquidators are evaluating revised offers from selected bidders for their 51.016% controlling stake in Evergrande Property Services, valued at over HKD 12.32 billion (around USD 1.58 billion). The unit had earlier disclosed indicative bids last year, and liquidators confirmed that no new non-binding proposals will be considered. While the timing and details for the next phase of the sale remain undecided, this review forms a critical part of broader creditor recovery efforts, with the parent group facing claims totaling roughly USD 45 billion.
China Evergrande Group's court-appointed liquidators are reviewing updated offers from certain selected bidders for a controlling stake in the company's property management division, Evergrande Property Services, according to a recent filing. The liquidators currently hold 51.016% of the unit, which has a market value exceeding HKD 12.32 billion, approximately USD 1.58 billion. Advertisement
The parent group continues to face substantial creditor claims, totaling about USD 45 billion. Evergrande Property Services had earlier reported that indicative bids were received last year for the majority stake. The liquidators have clarified that no new non-binding proposals will be considered in the ongoing process.
Although the assessment of revised bids is ongoing, the timing and details of the next steps, including potential transaction agreements, remain undecided. Evergrande Property Services manages a wide range of residential and commercial properties and remains operational, making it one of the most valuable segments of the Evergrande portfolio despite the parent company's broader financial difficulties.
Analysts note that successfully completing a sale of this unit could help partially offset the massive debts owed to creditors while offering insight into potential strategies for disposing of other Evergrande assets. The revised bids reflect continued investor interest in operational and profitable segments of the distressed developer.
Source Reuters
5th Jun, 2025
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