PAG in exclusive talks to acquire majority stake in Evergrande unit

PAG: PAG is an Asia-focused private equity firm headquartered in Hong Kong with a track record of investments across the region. The firm is currently in exclusive talks with the liquidators of China Evergrande Group to acquire a majority stake in Evergrande Property Services Group Ltd., and it is advancing toward finalizing deal terms. China Evergrande Group: China Evergrande Group is a major Chinese real estate developer that defaulted on substantial offshore debt and is now under the oversight of court-appointed liquidators managing its restructuring and asset disposals. Its liquidators are negotiating the sale of a controlling interest in the company's Hong Kong-listed property management subsidiary to PAG. Deal Status: PAG is advancing negotiations to finalize terms for the potential acquisition of the majority stake in the property services unit. Prior Negotiations: The current exclusivity follows the breakdown of earlier exclusive talks between Evergrande's liquidators and a state-owned tourism company. Liquidation Process: Evergrande's liquidators continue to pursue asset sales, including the property services unit, as part of efforts to address creditor obligations.