Indebted Evergrande to sell $575 million stake in mega-project
Troubled Chinese developer Evergrande on Wednesday said it will sell its stake in an incomplete development near Shanghai for $575 million as it scrambles to find cash to pay its mammoth debts. The real estate giant is drowning in $300 billion of liabilities, and has struggled to repay bondholders and investors after a clampdown by Beijing suddenly turned off the liquidity taps. On Wedne