China Evergrande, the beleaguered property developer, is selling its Hong Kong headquarters to raise funds, but is likely to take a loss on the transaction, the Financial Times reported in its live news blog on Thursday.
The real estate group, which is struggling under about $300 billion of debt, bought the Wan Chai tower for HK$12.5 billion ($1.6 billion) seven years ago, but the FT said it would be lucky to get HK$9 billion this year.
Read the full report: Financial Times.
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