Evergrande Liquidators Hire UBS to Sell $1.1 Billion Unit (1)

Liquidators of China Evergrande Group, the developer whose default in 2021 set off a broader yearslong property debt crisis, have hired bankers to sell a property management unit after previous attempts failed, people familiar with the matter said.

The court-appointed liquidators are working with UBS Group AG and Citic Securities Co. to seek potential buyers for the subsidiary, Evergrande Property Services Group Ltd., according to the people, who requested not to be named because the information is private.

The move comes as China Evergrande Group announced its delisting on Tuesday. The talks are preliminary and could be ...