30th October 2026 – (Hong Kong) Control of Evergrande Property Services (06666) is set to pass to private equity firm PAG after the board said liquidators and offeror Everest Holdings I Limited, a PAG vehicle, signed a share purchase agreement on 28th October for 5.515 billion shares, or 51.016 per cent of the company, for total consideration of HK$4.026 billion.
China Evergrande’s liquidators said that after a wide and competitive sale process they were pleased to reach agreement with PAG, adding that the property services business can move into a new phase once the deal completes, though substantial work remains before closing.
Including 8,500 shares PAG and parties acting in concert already held, the buyer will own 5.515 billion shares, or 51.016 per cent, on completion. PAG is paying HK$0.8359 a share for 147 million shares from China Evergrande and HK$0.7271 a share for 5.368 billion shares from CEG Holdings, for the HK$4.026 billion total. Under a side letter it will also pay Rmb500 million at completion for certain CEG taxes, deal costs and other liabilities.
PAG is making a general offer for the remaining shares at HK$0.8359 each, a 29.5 per cent discount to the Wednesday close of HK$1.185 yet a 268.7 per cent premium to net asset value of HK$0.23 a share as of end-June. After the stock resumed, shares fell as much as more than 16 per cent to HK$0.99 and were last down about 13 per cent at HK$1.03 on turnover near HK$110 million.
 is set to pass to private equity firm PAG after the board said liquidators and offeror Everest Holdings I Limited, a PAG vehicle, signed a share purchase agreement on 28th October for 5.515 billion shares.){kind=link}