Evergrande Backer Chinese Estates To Go Private After Plunge

Oct.06 - Chinese Estates Holdings Ltd., a real estate firm led by a long time billionaire backer of China Evergrande Group, is offering to take the company private after its stock plunged to an 18-year low. This comes after the default of another developer, Fantasia Holdings Group Co. Ltd., is fueling concerns over other highly leveraged borrowers and global contagion. Bloomberg’s Rebecca Choong Wilkins reports on “Bloomberg Daybreak: Asia.”

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