Big Evergrande shopping spree is not slowing down
By Bloomberg | China Daily | Updated: 2016-09-01 07:47
China Evergrande Group's debt-fueled expansion spree shows no signs of slowing down.
Even as soaring interest payments and marketing costs ate into first-half profit, a top executive at the Chinese developer said late on Tuesday that the company wants to acquire brokerage and trust companies as well as smaller rivals - deals that would add to about $6 billion of purchases since the start of 2016.
Evergrande, which made a surprise entry in August into the bidding war for the country's largest homebuilder - China Vanke Co - also signaled it may invest in other listed companies.
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