LeEco moves to selling your property in Beijing
Financial problems continue to significantly influence business of LeEco. We already reported about the sale of the headquarters in the United States and the care of the chief financial officer.
Now sources say the intention LeEco to sell their property directly at home. Now the company is negotiating the sale of real estate in Beijing a total area of approximately 50,000 m2, which LeEco bought recently: in the past year. Then it cost her $ 424 million.
LeEco intends to sell the entire property or only the part until the final decision is made. But the negotiations with potential buyers have been underway for several months. One of them said that the transaction value will likely be higher than those 424 million
It should also be noted that last year LeEco bought not just real estate, and the two companies that own the real estate: Beijing Fortune Times Property and Baiding Beijing New Century Business Management.
In addition, the source mentions the fact that one of the units LeEco recently lost the rights to broadcast football matches of the Asian football Confederation because of late payments.
In fact, despite the fact that LeEco is primarily known in China and outside this country to enter the main did not, her example is very telling for the rest of the market players particularly stand out for rapid financial growth. Often you will see how a huge company with a multibillion-dollar business in the shortest possible time without any external «help» (hi, Stephen Elop) is almost completely wasted their cash reserves.