Stocks News
- Goldman-led group hikes Shuanghui offer
Date: 30-Apr-2007 Sources: (Shenzhen Daily)
A CONSORTIUM led by Goldman Sachs is offering to pay 6.29 billion yuan (US$815 million), 73 percent more than it originally proposed, to buy shares it does not already own in Henan Shuanghui Investment & Development Co.
Rotary Vortex, in which Goldman owns 51 percent, is offering 31.17 yuan per share for Shenzhen-listed Shuanghui, up from 18 yuan proposed earlier, Henan Shuanghui said in a statement Friday. The consortium is making a general offer to buy 39.29 percent of Shuanghui's shares. The latest proposal brings the pricing of the offer up to the 31.17 yuan last traded price of Shuanghui's shares on the Shenzhen Stock Exchange on May 31, 2006.
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