China developer Kaisa reinstates chairman, bonds rise

April 13, 2015 5:57 AM

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HONG KONG, April 13 (Reuters) - Troubled Chinese developer Kaisa Group Holdings said on Monday it had reinstated its founding chairman months after he stepped down, a move traders said may dim the prospects of a takeover deal by larger rival Sunac China.

The return of Kwok Ying Shing, who along with other senior executives left Kaisa in December, comes days after the heavily indebted developer said authorities in its homebase Shenzhen had unblocked sales of several residential projects.

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