Others News
- Changhong to buy 30% of Huayi
Date: 28-Dec-2007 Sources: (Shenzhen Daily)
SICHUAN Changhong Electric Co., a Chinese home appliance maker partly owned by Microsoft Corp., said yesterday it would buy a controlling stake in China's biggest compressor manufacturer for 234 million yuan (US$31.8 million).
Changhong won an auction of 97.1 million shares, or 29.92 percent, of Huayi Compressor Co. with an offer of 2.41 yuan per share, a 77 percent discount to Huayi's previous share price of 10.42 yuan, Changhong said in a statement to the Shanghai Stock Exchange.
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