Chinese real estate company Sunac has terminated its proposed acquisition of Kaisa, the troubled Shenzhen-based property developer that defaulted on its US-dollar bonds.
Sunac just told the HKEx it will not purchase 2.6bn shares as proposed:
On 26 May 2015, the Sellers, the Offeror, the Guarantors and the Company entered into a Termination Agreement to terminate the Sale and Purchase Agreement with immediate effect.
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