Others News
- Overseas funds eye Rongsheng stake
Date: 6-Nov-2007 Sources: (Shenzhen Daily)
GOLDMAN Sachs Group Inc. and other overseas funds are close to finalizing a deal to buy a minority stake in domestic shipbuilder Rongsheng Heavy Industries Group for about US$600 million, sources familiar with the situation said yesterday.
'Rongsheng wants to bring in strategic investors before its initial public offering (IPO) of shares. Goldman and some other foreign funds have expressed an interest in it,'one of the sources, who declined to be identified, said. Another of the sources confirmed that the Wall Street bank was among Rongsheng's potential investors and that an agreement had been reached on price, although the final documents had not yet been signed.
Starbucks to open at least 80 more stores
STARBUCKS Corp., the world's largest coffee-shop chain, plans to add at least 80 stores in China by next October as it expands in the world's fastest-growing major economy.
The firm had more than 250 stores in China at the end of September, after adding 80 stores in the year through Oct. 1. 'We're not going to be opening less than the year before in China,'' chairman Howard Schultz said in Shanghai yesterday.
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