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Another billionaire helps China’s Evergrande with stake purchase

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Chus are the latest billionaire family to help out their pal, the Evergrande founder, with a 51 percent stake purchase offer.
In China, the property developer Fantasia Holdings failed to make a payment of $205m to its bondholders on Monday.
Investors are already worried that the housing giant Evergrande Group might collapse.
Evergrande is facing China's largest ever default as it struggles with more than $300bn of debt.
Al Jazeera's Rob McBride reports from Hong Kong.

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Category
World
Tags
Al Jazeera, Evergrande, al jazeera english
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