Another billionaire tycoon appears poised to come to the aid of embattled developer China Evergrande Group.
Hopson Development Holdings Ltd., a Hong Kong-listed real estate firm controlled by the billionaire Chu family, has agreed to buy a controlling stake in Evergrande’s property services business, Cailian reported Monday, citing people it didn’t identify. Evergrande Property Services Group Ltd. said in a statement that its shares were halted on Monday due to a pending announcement of a possible offer for shares of the company. Hopson declined to comment.
