Private Equity Firms Bid for Evergrande Property Services

Several private equity firms are preparing new bids for Evergrande Property Services Group Ltd., a Hong Kong-listed real estate management business. The firms, which include PAG, Warburg Pincus, and Trustar Capital, are re-entering the bidding process following the collapse of previous negotiations.

Liquidators for China Evergrande Group had previously engaged in exclusive talks with Guangdong Provincial Tourism Holdings Co., Ltd. to sell the unit. However, the two parties failed to reach an agreement, prompting the liquidators to open the process to other potential buyers. The current interest from private equity firms marks a new phase in the effort to divest the property services arm of the struggling real estate conglomerate.