Business Activities News
- Alstom cleared to buy stake in Wuhan Boiler
Date: 12-Apr-2007 Sources: (Shenzhen Daily)
ALSTOM SA, the world's third-biggest maker of power turbines, received Chinese Government approval to buy a 51 percent stake in Shenzhen-listed Wuhan Boiler Co.
Alstom China Investment Co. will pay 339 million yuan (US$44 million) to buy 151 million nontradable shares in Wuhan Boiler from parent Wuhan Boiler Group, Wuhan Boiler said in a statement. Alstom planned to pay 329 million yuan for the stake a year earlier, according to Wuhan Boiler.
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