Key facts
- Talks to sell a controlling stake in Evergrande Property Services have collapsed.
- Liquidators of China Evergrande Group were unable to reach a formal agreement with a prospective buyer.
- Evergrande Property Services announced the termination of negotiations on Thursday.
- The company's shares closed down 23.5% at HK$0.78.
Negotiations to sell a controlling stake in Evergrande Property Services Group Ltd. have collapsed, as liquidators for its bankrupt parent, China Evergrande Group, failed to secure a formal agreement with a potential buyer. The property management firm announced the termination of these talks midday Thursday. Following the announcement, the company's shares listed in Hong Kong experienced a significant drop, closing down 23.5% at HK$0.78.