Evergrande Health Industry Group Ltd, a Hong Kong-listed investment holding company engaged in the media and healthcare businesses, announced that it has entered into an agreement to acquire a company that owns 45% equity interest in a joint venture with Faraday Future, the U.S.-based electric car start-up founded by embattled Chinese entrepreneur Jia Yueting, according to a security filing. Evergrande Health will acquire 100% of Season Smart Ltd., for HK$6.75 billion (US$860 million). Season Smart and Faraday Future will jointly established …

Evergrande Health Acquires 45% Stake In Faraday Future To Be Its Largest Shareholder appeared first on China Money Network.