Country Garden Acquires Debt-Laden Rival’s Assets

The seller Guangzhou R&F urgently needs cash.

Kate Lin, CAIA 30 September, 2021 | 23:22
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While China Evergrande Group (03333) is busy sorting out several of their coupon payments, another troubled property developer is also trying to build up its cash on hand. Guangzhou R&F Properties (02777) announced a sale of its property management arm to a subsidiary of its rival, Country Garden (02007).

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
China Evergrande Group2.69 HKD4.26
Country Garden Holdings Co Ltd8.16 HKD0.99
Country Garden Services Holdings Co Ltd65.80 HKD-0.45Rating
Guangzhou R&F Properties Co Ltd Class H5.92 HKD4.78

About Author

Kate Lin, CAIA

Kate Lin, CAIA  is a Data Journalist for Morningstar Asia, and is based in Hong Kong

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