PAG reportedly agrees to buy 51% of Evergrande Property Services for $510 million

Nikkei Asia reports that PAG has agreed to buy a 51% stake in Evergrande Property Services for HK$4 billion ($510 million). Caixin Global says China Evergrande’s liquidators are leading the sale, which is expected to be a primary source of recovery for offshore creditors. Caixin reports that PAG plans a mandatory general offer but intends to keep the property management company listed in Hong Kong.