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Article: NINGBO SHANSHAN TO TAKE STAKE IN SONGJIANG COPPER GROUP

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AsiaInfo Services
Article date:
December 2, 2008
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AsiaInfo Services
12-02-2008
Ningbo Shanshan to Take Stake in Songjiang Copper Group

NINGBO, Dec 02, 2008 (SinoCast Daily Business Beat via COMTEX) -- China's leading garment maker Ningbo Shanshan Co., Ltd. (SHSE: 600884) plans to pay CNY 320 million for a 24.92% stake in Harbin Songjiang Copper (Group) Company Limited.

The listed company will get the equity from its major shareholder Shanshan Investment Holdings Co., Ltd. (SIH) and will gain all yields that Songjiang Copper should contribute to SIH from January 1, 2008 to the date that the proposed stake transaction completes.

The buyer and seller have reached an agreement on fixing the benchmark date of the evaluation of the target equity ...

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