HONG KONG — Shareholders of China Evergrande New Energy Vehicle Group accepted a proposal to dispose of two subsidiaries in a restructuring, according to a filing with the Hong Kong stock exchange on Friday night.
More than 50 percent of the votes under the EV company, a unit of embattled property developer China Evergrande, were cast at a Friday general meeting in favor of a proposal raised in late April, the filing said.
The EV unit on April 25 announced the plan to sell two debt-laden companies to another unit under China Evergrande as part of the automaker’s restructuring.
The EV unit was expected to book a $3.6 billion gain from the transfer, while the two companies to be sold held 47 real estate projects altogether, said a previous stock filing by the EV unit.
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