Country Garden Seeking Exit From Chinese Chipmaker CXMT, Sources Say [Yahoo! Finance]
COUNTRY GARDEN HL UNS/ADR (CTRYY)
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Source: Yahoo! Finance
Most Read from Bloomberg Donald Trump Becomes First Former US President Guilty of Crimes World's Largest Nuclear Plant Sits Idle While Energy Needs Soar South Africa Election Results With 29% Voting Districts In Insurers Sink as UnitedHealth Sees ‘Disturbance' in Medicaid ‘Not Gonna Be Pretty:' Covid-Era Homebuyers Face Huge Rate Jump Country Garden Venture Capital is seeking about 2 billion yuan ($276 million) for its undisclosed stake in ChangXin Memory Technologies Inc., according to people familiar with the matter. Country Garden, a major focal point in China's real estate crisis, is scouring for capital to appease creditors after extending some yuan bond repayments last month. It is also facing a winding-up petition from a creditor in Hong Kong after failing to make payments on a loan worth about $205 million plus interest. Read More: Country Garden Begins Court Battle Against Liquidation Threat Deliberations are ongoing and may not lead to a sale, according to
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