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Country Garden Tycoon Collects Dividends With Empire in Crisis.

Authors :
Pacheco, Filipe
Feng, Venus
Source :
Bloomberg.com; 8/30/2024, pN.PAG-N.PAG, 1p
Publication Year :
2024

Abstract

Chinese billionaire Yang Huiyan, the chair of Country Garden Holdings Co., and a charity connected to her family have received $50.6 million in dividends from a services company within her property empire. This comes as Country Garden has defaulted on $10.8 billion of debt. Yang holds a significant stake in both Country Garden and Country Garden Services, and she transferred part of her stake in the latter to her sister's charitable foundation last year. The dividend payments have raised concerns among creditors, as the company's financial situation remains unstable. [Extracted from the article]

Details

Language :
English
Database :
Complementary Index
Journal :
Bloomberg.com
Publication Type :
Periodical
Accession number :
179361398