China's Country Garden to sell stake in Wanda unit for $432m
Summary
HONG KONG -- Embattled Chinese property developer Country Garden Holdings says it will sell its minority stake in a unit of Dalian Wanda Group, a fellow cash-strapped real estate and commercial conglomerate, to another Wanda company.The deal comes as Country Garden seeks to shore up its severely strained finances and at a time when several of the countrys property companies are facing headwinds.
Classifications
industries
No industries detected
applications
No applications detected
AskAI Classifications
Labels
No AI classifications detected