SIIC TO BUY SHANGHAI URBAN DEVELOPMENT VIA HK-LISTED UNIT
AsiaInfo Services, September, 2006
AsiaInfo Services 09-04-2006 SIIC to Buy Shanghai Urban Development via HK-listed Unit SHANGHAI, Sep 04, 2006 (SinoCast via COMTEX) -- Shanghai Industrial Investment (Holding) Co. said it would acquire Shanghai Urban Development Co., but the latter argued it has no knowledge of the matter. In early August, Shanghai Industrial Investment was said to buy into the acquisition target through its Hong Kong-listed subsidiary Shanghai Industrial Holdings by means of stake purchase. At present, Shanghai Urban Development is under corporation examination and verification as well as assets evaluation. The deal can be concluded after gaining approval of China's State-owned Assets Supervision and Administration Commission.
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