By Xie Yu
HONG KONG, May 13 (Reuters) - 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% of the votes under the EV company, a unit of
embattled property developer China Evergrande , were
cast at a Friday general meeting in favour 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 auto firm'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
property projects altogether, said a previous stock filing by
the EV unit.
The deal would help the EV unit focus on the new energy
vehicle segment and could help improve its valuation and
eventually "may help to attract investors to Evergrande Auto and
raise funds", said a separate filing by the group company.
China Evergrande said in another filing on Friday that it
had received an enforcement notice issued by a court in southern
Chinese city of Guangzhou, covering the company, its controlling
shareholder Hui Ka Yan and a property development subsidiary.
Hui and Evergrande were requested to fulfil their repurchase
obligation worth around 5 billion yuan ($700 million) after a
deal dispute, on top of other payment duties including
outstanding dividends, liquidated damages and legal fees, the
filing said.
($1 = 6.9121 Chinese yuan renminbi)
(Reporting by Xie Yu; Editing by William Mallard)
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