PAG agrees to buy majority stake in Evergrande Property Service
Liquidators of Evergrande Group agreed to sell a majority stake in its property management unit to PAG for HK$4 billion.
Liquidators of Evergrande have agreed to sell a majority stake in Evergrande Property Service to Asia Pacific-focused investment firm PAG for HK$4 billion (about RM2.07 billion), according to a stock exchange filing. The deal would be the largest liquidation sale of the firm to date.
PAG said it plans to keep the Evergrande subsidiary listed in Hong Kong and does not plan major changes to its operations. Evergrande is being liquidated after defaulting on its debts in 2021, and the liquidators said less than one per cent of the US$46 billion in creditor claims sought had been claimed as of September.
Deal facts
- Target
- Evergrande Property Service
- Business
- Property management arm of Evergrande Group, the Hong Kong-listed unit of the indebted Chinese developer
- Buyer
- PAG
- Sponsor
- PAG
- Seller
- Liquidators of Evergrande Group
- Deal type
- Platform
- Value
- HK$4 billion
- Status
- Announced, not yet closed
- Announced
- Thursday, October 29, 2026
Sources
- Malay MailOct 30, 2026
- msn.comOct 29, 2026
- CNAOct 30, 2026
- msn.comOct 29, 2026
- Free Malaysia Today on MSNOct 30, 2026
Written by Buyout Desk from the sources above. Spotted an error? Email corrections@buyoutdesk.com.