Others News
- Ministry needs time for Xugong deal
Date: 7-Mar-2007 Sources: (Xinhua Online)
THE Ministry of Commerce still needs time to make a final decision on a bid by U.S. private-equity fund Carlyle Group for a stake in Xugong Group Construction Machinery Co., Minister of Commerce Bo Xilai said yesterday.
'We need to complete some necessary procedures and we still need some time to make the final decision,'Bo said. In late October, Xugong Group Construction Machinery's listed unit, Xugong Science & Technology Co., said Carlyle had offered to pay 1.8 billion yuan (US$231.36 million) for a 50 percent stake in its parent.
Sponsor Results:
