Shimao Group sells two hotels in Hong Kong

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Shimao Group sold two hotels in Hong Kong for HK$2.7 billion (US$344 million), a transaction overseen by joint receiver Una Ge of AlixPartners. Although all shortlisted parties improved their offers during the final stages of the process, the sale resulted in an estimated HK$1.8 billion shortfall against the properties' secured loans. This event highlighted…

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