Business Activities News
- Goldman's Shuanghui buy to win nod
Date: 1-Dec-2006 Sources: (Shenzhen Daily)
THE Ministry of Commerce will soon approve a Goldman Sachs Group Inc.-led consortium's acquisition of the country's largest meat-processing company, the China Economic Times reported Thursday, citing a ministry official.
The consortium's approximately 2 billion yuan (US$254.13 million) bid for Shuanghui Group, also known as Shineway Group, has been awaiting final government approval since April. Guo Jingyi, vice director of the Commerce Ministry's Department of Treaty and Law, said the sale of Shuanghui, a meat-processing firm, doesn't threaten the country's economic safety, according to the report. In the report, he didn't give a more specific timeline for the approval, the last hurdle for the purchase.
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