Article: FOREIGN INVESTORS WANT TO TAKE OVER KAIPING CHUNHUI


AsiaInfo Services
05-12-2006
Foreign Investors Want to Take Over Kaiping Chunhui

GUANGDONG, May 12, 2006 (SinoCast via COMTEX) -- Many foreign companies, including Germany-based Enka GmbH & Co. KG, are planning to buy a controlling stake in Guangdong Kaiping Chunhui Co., Ltd. (Kaiping Chunhui, SSE: 00976), a listed filament fiber manufacturer in China.

An insider discloses that Kaiping Terylene Enterprise Group, the largest shareholder of Kaiping Chunhui, is under the equity structure reform. According to the current reform plan, the group will sell 22.36 shares in Kaiping Chunhui to foreign acquirer. At the same time, the other six legal person share holders of Kaiping Chunhui agree to ...

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