
China Evergrande to sell $1.5 bln stake in Shengjing Bank to state firm
HONG KONG (Reuters) Cash-strapped China Evergrande said on Wednesday it plans to sell a 9.99 billion yuan ($1.5 billion) stake it owns in Shengjing Bank Co Ltd. to a state-owned asset management company as it scrambles to raise funds. Shengjing Bank had demanded that all net proceeds from the disposal be applied to settle the relevant financial liabilities of the group











