Business Activities News
- Carlyle to buy into Shandong Haihua
Date: 13-Mar-2007 Sources: (Shenzhen Daily)
U.S. private equity firm Carlyle Group has turned its sights to Shenzhen-listed soda ash manufacturer Shandong Haihua, the Economic Observer reported.
Carlyle plans to buy shares in Haihua, the Beijing-based newspaper said, citing unnamed sources and without specifying the size of the potential purchase. In October 2005, Carlyle agreed to buy 85 percent of Xugong Group Construction Machinery Co. for US$375 million, unleashing a storm of protest from officials and academics who argued the government was selling off State assets too cheaply to foreigners.
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