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PAG Buys Evergrande Stake for $514M

30 Oct

Summary

PAG acquired a majority stake in Evergrande Property Services.
The deal is valued at HK$4.03 billion or $514 million.
The offer price was HK$0.8359 per share.

Private equity firm PAG has finalized an agreement to acquire a majority stake in Evergrande Property Services Group Ltd. The transaction is valued at HK$4.03 billion, which converts to approximately $514 million USD. This significant deal was officially confirmed through a filing with the Hong Kong stock exchange.

The terms of the agreement stipulate an offer price of HK$0.8359 for each share of Evergrande Property Services. This acquisition represents a pivotal moment for the property management arm of the Evergrande Group, signaling a shift in its ownership structure.

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