Sunac China buys 49.3% Kaisa stake for $587m

The deal provides troubled Kaisa with much-needed financial clout but could yet trigger a change-of-control clause in its offshore bonds.

Tianjin-headquartered Sunac China has bought a 49.3% stake in default-threatened Kaisa Group for HK$4.55 billion ($587 million), according to a Hong Kong stock exchange filing on Thursday.

¬ Haymarket Media Limited. All rights reserved.

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