China Evergrande unit to sell two businesses as part of restructuring

(Reuters) - China Evergrande Group said on Monday its division New Energy Vehicle Group will sell two of its businesses to another unit of the group, as the embattled property developer attempts to restructure its organisation.

New Energy Vehicle Group will record a gain of about 24.79 billion yuan ($3.60 billion) following the sale, the unit said.

($1 = 6.8940 Chinese yuan renminbi)

(Reporting by Riya Sharma in Bengaluru; Editing by Shounak Dasgupta)