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The tender deal of embattled China Evergrande Group’s (3333. HK) Hong Kong headquarters has expired again, because the offer prices and terms did not meet requirements.
Lenders to the office tower, China Evergrande Centre, valued at between HK$8 billion and HK$9 billion ($1.02 billion to $1.15 billion), appointed receiver in September to seize the asset and put it on tender sale with a deadline for bid submission on Oct. 31.
Evergrande, saddled with more than $300 billion in liabilities and at the center of an unprecedented property sector crisis in China, had been trying to sell its 27-story tower in Hong Kong’s Wan Chai district to raise cash before creditors seized it.
Chinese state-owned China Citic Bank Corp Ltd (601998. SS), whose Hong Kong subsidiary leads the lender group, did not immediately respond to the request for comment. Evergrande and Savills, the agent for the tender sale, declined to comment.
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