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Hopson Development to buy Evergrande unit -Global Times, citing media reports – Metro US

Hopson Development to buy Evergrande unit -Global Times, citing media reports

FILE PHOTO: The China Evergrande Centre building sign is seen
FILE PHOTO: The China Evergrande Centre building sign is seen in Hong Kong

HONG KONG (Reuters) – Hopson Development plans to acquire around 51% of China Evergrande’s property services unit for more than HK$40 billion ($5 billion), China’s Global Times newspaper said on Monday, citing unnamed media reports.

Shares of China Evergrande, Evergrande Property Services Group and Hopson were all suspended on Monday.

($1 = 7.7863 Hong Kong dollars)

(Reporting By Donny Kwok and Anne Marie Roantree; Editing by Tom Hogue)

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