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Property Developer Sunac Slumps as $2.2 Billion Bet on China's LeEco Questioned

  • Deal to increase developer’s debt, lacks synergies: analysts
  • Sunac to seek growth through health, finance, resources deals
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China's LeEco Gets $2.2B Sunac Investment

Bloomberg News
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Sunac China Holdings Ltd. fell the most in more than 16 months in Hong Kong as investors questioned the real estate developer’s $2.2 billion bet on Chinese tech tycoon Jia Yueting’s cash-strapped LeEco empire.

The stock slumped as much as 10 percent, the biggest intraday decline since Aug. 26, 2015, and traded 6.2 percent lower at HK$6.84 as of 1:37 p.m. local time, paring this year’s gain to 6 percent.