Politics
Zhuhai Huafa Selling Marriott-Branded Hotel to Bolster Liquidity
Key Points
EXCLUSIVE Zhuhai Huafa Selling Marriott-Branded Hotel to Bolster Liquidity Zhuhai Huafa Group Co., a local government-owned conglomerate, told some creditors this week that it is selling a Marriott-branded hotel to Zhuhai Gree Group Co., according to people familiar with the matter, as it seeks to boost liquidity. Huafa has discussed a valuation of about 2 billion yuan ($300 million), but the net proceeds from the sale remain unclear, said the people, asking not to be identified as the...
EXCLUSIVE
Zhuhai Huafa Selling Marriott-Branded Hotel to Bolster Liquidity
Zhuhai Huafa Group Co., a local government-owned conglomerate, told some creditors this week that it is selling a Marriott-branded hotel to Zhuhai Gree Group Co., according to people familiar with the matter, as it seeks to boost liquidity.
Huafa has discussed a valuation of about 2 billion yuan ($300 million), but the net proceeds from the sale remain unclear, said the people, asking not to be identified as the matter is private. The company has received advance payment, the people added.