China's Evergrande EV unit set for $3.6b gain from liability transfer

China's Evergrande EV unit set for $3.6b gain from liability transfer

FILE PHOTO: The China Evergrande Centre building sign is seen in Hong Kong, China December 7, 2021. REUTERS/Tyrone Siu

Embattled property developer China Evergrande Group said its listed electric vehicle arm will book a $3.6 billion gain from the transfer of two debt-laden companies to another group unit as part of the auto firm’s restructuring.