Article: NEW BRIDGE INVESTMENT BUYS STAKE IN SHENZHEN DEVELOPMENT BANK.

BEIJING, June 1 Asia Pulse - New Bridge Investment officially announced a report on acquiring a 17.89 per cent interest in the Shenzhen Development Bank at a price of 3.546 yuan per share.

The acquisition will cost New Bridge Investment a total of 1.235 billion yuan (US$149.1 million), which will be paid in cash in a lump sum.

The board of the Shenzhen-based bank held a meeting on May 29, finally making a decision of supporting to let in New Bridge Investment.

On the same day, New Bridge Investment signed equity transfer agreements with four holders of state-owned shares in the Shenzhen Development Bank, namely the Shenzhen Investment Management ...

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