Deals
Sunac China to Make Buyout Offer for Troubled Developer Kaisa
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Sunac China Holdings Ltd., which bought a 49.3 percent stake in Kaisa Group Holdings Ltd., said it will offer to buy out the troubled Chinese developer at a premium to the last traded price.
Sunac agreed to buy 2.53 billion shares from Kaisa’s founding Kwok family for HK$4.55 billion ($587 million), or HK$1.80 each, and make a general offer at the same amount, according to a joint statement to the Hong Kong stock exchange Friday. That is 13 percent more than Kaisa’s price before the stock was suspended on Dec. 29.