Deals
Sunac $380 Million Purchase Seen as First Step in Kaisa Deal
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Sunac China Holdings Ltd.’s 2.37 billion yuan ($380 million) purchase of four units of Kaisa Group Holdings Ltd. may be a prelude to a further investment by Chairman Sun Hongbin in the troubled developer.
Sunac shares, which were halted on Friday in Hong Kong, remained suspended after the developer disclosed the purchase of the Shanghai units on Sunday, suggesting that negotiations were ongoing, according to Nomura Holdings Inc. Kaisa shares have been suspended since Dec. 29.