SHENYANG MOTOR SOLD EQUITY TO HYOSUNG POWER
AsiaInfo Services, October, 2007
AsiaInfo Services 10-03-2007 Shenyang Motor Sold Equity to Hyosung Power SHENYANG, Oct 03, 2007 (SinoCast via COMTEX) -- Chinese motor manufacturer Shenyang Electric Motor Co., Ltd. officially sold its 72.67% state-owned stake and related businesses to Hyosung Power Holdings, Ltd., an arm of South Korea-based Hyosung Corporation. Hyosung Power totally poured CNY 909 million in the deal, which had been approved by the government of the northeastern Chinese city of Shenyang, according to the Shenyang United Assets and Equity Exchange. On July 4, 2007, Shenyang Motor started selling its equity priced at approximately CNY 320 million on the Shenyang United Assets and Equity Exchange, including CNY 163.62 million for the 72.67% stake and CNY 156.427 million. The...
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