Others News
- Lucky Film suspended from trading
Date: 13-Nov-2007 Sources: (Shenzhen Daily)
SHARES of Lucky Film Co., in which Eastman Kodak has a 13 percent stake, were suspended from trading yesterday ahead of negotiations with Kodak about details of a stake purchase agreement signed earlier.
In 2003, Kodak signed a framework agreement with Lucky Film Group, paying US$45 million and providing an automatic exposure control (AEC) production line in exchange for a 20 percent stake in the company. A 7 percent stake still has not been transferred to Kodak. In addition, the company's State share reforms were delayed mainly because of the unfinished transfer of the 7 percent stake to Kodak and the uncompleted AEC production line.
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