 |
|
  |
2007-1-29 03:23:00 p.m. HKT, XFNA
HK-listed Tai Ping to take 49 pct stake in new jv with China's Shanhua Carpets
|
| |
HONG KONG (XFN-ASIA) - Tai Ping Carpets International Ltd said it will
take a 49 pct stake in a 117 mln hkd carpet-making venture with Weihai
Shanhua Carpets Group Co.
It said in a statement that the venture will be its fourth joint project
with Shanhua.
Tai Ping said it will invest about 22.9 mln hkd in the registered capital
of the new venture, with Shanhua brining in 23.9 mln.
The joint venture will have a term of 35 years.
""The directors believe the establishment of a joint venture company will
further strengthen the group's relationship with Shanhua and help increase
market share in China,"" it said.
(1 usd = 7.8 hkd)
leonora.walet@xfn.com
lw/rc xfnlwm/xfnrc
MMMM
AFN |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
