The provincial government leading China Evergrande Group’s restructuring wants to separate the company’s offshore assets and sell them to pay off foreign debt, a media report said on Friday, in a boost to foreign lenders’ hopes of recouping funds.
Financial intelligence provider REDD said on Friday the provincial government in Guangdong, where Evergrande is based, aimed to release a framework debt restructuring plan by March that could also wipe out the 60% stake of the group’s chairman.
