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Zhonghong Zhuoye’s bid for Brookdale stalls as funding evaporates

A Chinese property group’s acquisition of a US senior living business has stalled as regulators in China tighten their grip on outbound investments and banks re-calibrate their assessment of lending risks.

In June, Zhonghong Zhuoye Group was close to agreeing to buy New York-listed Brookdale, which owns and operates care facilities for older people in the US.

People familiar with the deal said the asset could fetch up to $4bn, making it one of the largest overseas acquisitions for a private Chinese company so far this year.

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