Bloomberg.com
26 May 2008
May 26 (Bloomberg) -- Evergrande Real Estate Group Ltd., the China-based developer that scrapped a HK$16.6 billion ($2.1 billion) initial share sale in March, will raise money by selling stakes to Deutsche Bank AG and Merrill Lynch & Co., the South China Morning Post said, citing people it didn't identify.
The Guangzhou-based developer is also in talks with Temasek Holdings Pte for the Singapore government investment arm to boost its investment, the newspaper said. Deutsche Bank, Merrill and Temasek in 2006 spent a combined $400 million in the company, the Morning Post said.
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