Stocks News
- Midea mulls further stake in Little Swan
Date: 13-Nov-2007 Sources: (Shenzhen Daily)
GUANGDONG Midea Electric Appliances Co. is expected to take a further stake in Wuxi Little Swan Co. from Wuxi Guolian Development Group Co., Little Swan's biggest shareholder, the Economic Observer reported yesterday.
The report did not give the size of the stake Midea will buy, but added the deal was worth 1.6 billion yuan (US$215.63 million). According to Midea's half-year report, a wholly-owned investment unit currently holds 18 million B shares of Shenzhen-listed Wuxi Little Swan, accounting for a 4.93 percent stake.
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