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Chinese state-owned Yuexiu Property has pulled out of a proposed $1.7 billion deal to buy China Evergrande Group's Hong Kong headquarters building over worries about the developer's dire financial situation, two sources said.
The collapse of the talks for the landmark building's sale is another setback for cash-strapped Evergrande which has been scrambling to divest some assets to repay creditors knocking on its doors.
State-owned developer pulls out of $1 7b deal to buy Evergrande s HK headquarters dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.