TAIPEI: Chinese tech conglomerate LeEco is in talks to sell a prized property asset in the heart of Beijing it acquired in a US$420mil deal last year, the latest effort by the electric car-to-smartphone behemoth to raise funds amid a severe cash crunch.
The company plans to sell either all or a majority of its Shimao Gongsan retail property in a popular area on the east side of Beijing by divesting from two firms it owns, two people with direct knowledge of the matter said. LeEco has been in talks with potential investors for some months now, the first person said.
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