The tender sale of embattled China Evergrande Group's Hong Kong headquarters has lapsed again, two sources with knowledge said, because the offer prices and terms did not meet requirements.
Hong Kong headquarters has lapsed again, two sources with knowledge said, because the offer prices and terms did not meet requirements.
Lenders to the office tower, China Evergrande Centre, valued at between HK$8 billion and HK$9 billion , appointed receiver in September to seize the asset, and put it on tender sale with a deadline for bid submission on Oct. 31. Evergrande, which is saddled with more than $300 billion in liabilities and is at the centre of an unprecedented property sector crisis in China, had been trying to sell its 27-storey tower in Hong Kong's Wan Chai district to raise cash before it was seized by creditors., whose Hong Kong subsidiary leads the lender group, did not immediately respond to request for comment. Evergrande and Savills, agent for the tender sale, declined to comment.
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