Stocks News
- Kodak sale of Lucky Film stake approved
Date: 21-Dec-2007 Sources: (Shenzhen Daily)
EASTMAN Kodak had obtained approval from the Chinese Government for its plan to dispose of its entire 20 percent stake in Lucky Film Co., Shanghai-listed Lucky Film said in a statement Thursday.
Lucky Film said in the statement that the Ministry of Commerce had given its go-ahead to Kodak's plan but the deal still remained subject to approval by the China Securities Regulatory Commission. Earlier, Lucky Film, China's largest photographic film company, said its parent Lucky Film Corp. would proceed with a sale of a further 7 percent stake to Kodak, bringing Kodak's holding in the listed company to 20 percent. However, Kodak will then sell on its entire holding in Lucky Film to Guangzhou Chengxin Venture Capital Ltd.
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