Chinese conglomerate CEFC China Energy has plans to sell its entire global property portfolio with a book value of more than $3.2 billion, according to Bloomberg.
The majority of the properties are located in China.
The sale follows other Chinese firms, HNA Group Co. and Anbang Insurance Group Co., who have sold or are under pressure to sell holdings due to the Chinese government crackdown on acquisitions.
Earlier this month Bloomberg reported CEFC chairman, Ye Jianming, was investigated by authorities, and the company was taken over by an arm of the Shanghai government.
