LITTLE SWAN PULLS OUT FROM JVS WITH MATSUSHITA
AsiaInfo Services, October, 2007
AsiaInfo Services 10-01-2007 Little Swan Pulls out from JVs with Matsushita WUXI, Oct 01, 2007 (SinoCast via COMTEX) -- Wuxi Little Swan Co., Ltd. (SZSE: 000418), a leading Chinese washing machine manufacturer, announced on September days ago that it received a total of JPY 2.348546197 billion, or CNY 153.8 million, from the Matsushita Electric Industrial Co., Ltd.
on September 26. The company said in a statement that it had entered into an agreement with the Japanese electronics giant on the sale of a 19% stake it held in Panasonic Home Appliances Refrigerator (Wuxi) Co., Ltd. as well as a 19% stake it owned in Panasonic Refrigeration Devices (Wuxi) Co., Ltd. for CNY 153.71 million in all. Moreover, concerned procedures for the changes in the business...
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