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Article: GD MIDEA OKED TO FORM FINANCE FIRM
- Article from:
- AsiaInfo Services
- Article date:
- July 13, 2009
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AsiaInfo Services
07-13-2009
GD Midea OKed to Form Finance Firm
GUANGDONG, Jul 13, 2009 (SinoCast Daily Business Beat via COMTEX) -- Guangdong Midea Holding Co., Ltd. (SZSE: 00057) has gained regulatory approval for the establishment of a finance firm, the Shenzhen-listed household appliance maker announced last weekend.
GD Midea and its affiliate are required to accomplish preparations for the proposed finance firm in six months.
In detail, Midea Group, controlling shareholder of GD Midea, is to pump CNY 275 million into the venture, getting a 55% stake; Welling Motor, CNY 25 million, 5%; and GD Midea, CNY 200 million, 40%.
The to-be-established finance firm, with a registered capital of CNY ...
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Article: MIDEA OKED TO CREATE FINANCE FIRM
AsiaInfo Services;
July 13, 2009 ;
361 words
... ... 07-13-2009 Midea OKed to Create Finance Firm GUANGDONG, Jul 13, 2009 (SinoCast ... Banking Regulatory Commission to set up a finance firm under Midea Group with its affiliates ... group, will end establishment of the finance firm with CNY 500 million in capital within ...
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