Dow Jones Newswires: China’s Country Garden makes move to aid debt restructuring

Chinese property giant Country Garden 2007, +2.60%will sell a stake in a commercial center operator for about US$428 million, using the proceeds to help restructure offshore debt. The indebted developer said Thursday that a group subsidiary will sell its entire 1.79% stake in Zhuhai Wanda Commercial Management Group for 3.07 billion yuan (US$428.0 million).Net proceeds of the disposal will be used to restructure offshore debt. Zhuhai operates 494 commercial centers, including 290 owned by Dalian