02
Jan
10:16
Evergrande Auto loses investment from Newton Group
Evergrande Auto, a carmaker affiliated to struggling Chinese property enterprise Evergrande, announced at the beginning of the new year that Dubai-based Newton Group had not agreed to extend the deadline for the subscription agreement and the debt-for-equity swap subscription agreement, Kallanish notes.
This basically marks the invalidation of the agreement, which would have seen a strategic investment of $500 million.
On 14 August last year, Newton Group agreed …
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Very good overview of the weekly steel market.
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