LeEco repays part of China Merchant Bank debt

SHANGHAI: LeEco has repaid HK$807mil (US$103.20mil) of a debt owed to China Merchants Bank and will seek to negotiate with the creditor to secure the release of some of its frozen assets, the wife of the embattled conglomerate’s founder said.

Gan Wei, who has been entrusted by the founder Jia Yueting to exercise shareholder rights at LeEco’s listed units and to handle asset sales, said on her official Weibo account on Sunday that the debt and interest payments owed to China Merchants Bank had amounted to HK$1.4bil.