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Article: Luoyang Molybdenum's restructuring stalled as government steps in.
- Article from:
- China Business News
- Article date:
- December 3, 2004
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Luoyang Molybdenum's restructuring stalled as government steps in
Shanghai December 3. INTERFAX-CHINA-The Luoyang Molybdenum Group (Luoyang Molybdenum), a leading publicly owned molybdenum industry had had its restructuring agreement with a private investment firm blocked as the city government asserts its control over the company.
Luoyang Molybdenum was previously controlled by the government of Ruanchuan County, a division of Luoyang City in Henan Province. The county government set up a restructuring plan with the Cathay Fortune Group (CFC), a Shanghai headquartered private investor. However, the government of Luoyang City blocked the deal by saying ...