BUZZ-China Evergrande's EV unit soars on deal to sell stake

Reuters05-27

** Shares of China Evergrande New Energy Vehicle soar as much as 113% to HK$0.81 in resumed trade, their highest since Sept. 22

** Stock, which was halted on May 17, set for biggest one-day jump since Nov 2014 and is top gainer on Hong Kong bourse

** Co says liquidators on behalf of China Evergrande Group

, Evergrande Health Industry and Acelin Global enter non-binding term sheet for a third-party purchaser buying a 29% stake in the unit and an option to buy a further 29.5% stake

** China Evergrande Group, Evergrande Health and Acelin Global collectively hold 58.5% of the funds-starved EV unit, whose Tianjin factory has ceased production since start of 2024

** EV unit says term sheet also mentions potential purchaser to provide a line of credit

** Stock of the EV unit up 41.1% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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