Beijing: Troubled developer China Evergrande Group says it will sell its stake in an incomplete development near Shanghai for US$575mil (RM2.41bil) as it scrambles to find cash to pay its mammoth debts.
The real estate giant is drowning in US$300bil (RM1.26 trillion) of liabilities, and has struggled to repay bondholders and investors after a clampdown by Beijing suddenly turned off the liquidity taps.
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