Cash-strapped corporate raider Baoneng Investment Group is hoping to raise money to help pay off $31 billion in debt by selling a mixed bag of assets, Caixin reported on Thursday.
An office building, logistics park, plots of land and equity in financial companies are among the assets for sale by Baoneng, best known for its failed 2015 hostile takeover attempt of leading developer China Vanke.
Caixin reported that Shenzhen-based Baoneng had interest-bearing liabilities of 192.7 billion yuan ($31 billion) as of the end of September, plus 30.8 billion yuan of debt guarantees it provided for other companies.
Read the full report: Caixin
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