Private equity firms, notably Trustar Capital, are said to be considering fresh bids for Evergrande Property Services Group Ltd., the property management unit of the embattled China Evergrande Group. This renewed interest comes after the liquidators of China Evergrande had previously been expecting binding offers for the unit as early as January 2026. Trustar Capital, an affiliate of CITIC Capital, was among the firms that had evaluated a bid earlier in the year.
The initial sale process faced setbacks. In February 2026, Evergrande's liquidators were weighing revised bids for a majority stake in the property services arm. However, by April 2026, liquidators had selected Guangdong Provincial Tourism Holdings Co. for exclusive talks. This negotiation period, which began on April 14, 2026, was for a 30-working-day duration.
Ultimately, the talks to sell a controlling stake in Evergrande Property Services collapsed. The property management firm announced the termination of negotiations on a Thursday in June 2026, stating that no formal transaction agreement was signed. This news led to a significant drop in its Hong Kong-listed shares, which fell by 23.5% to close at HK$0.78 ($0.1), marking its weakest close since mid-June 2025. Creditor claims against the parent group totaled about $45 billion as of August of the previous year.
The liquidators of China Evergrande Group own a 51.016% stake in Evergrande Property Services. The unit had a market capitalization of HK$12.32 billion ($1.58 billion) as of February 6, 2026. The potential sale of this unit is part of efforts to unwind China Evergrande's assets, following its liquidation order by a Hong Kong court in early 2024 after defaulting on massive liabilities. This new round of considerations by private equity firms suggests a persistent interest in acquiring Evergrande Property Services despite previous failed attempts.
