SINO, FOREIGN SIDES FIGHT FOR CONTROLLING RIGHT IN COALMINE

AsiaInfo Services, June, 2009

AsiaInfo Services 06-22-2009 Sino, Foreign Sides Fight for Controlling Right in Coalmine SHANXI, Jun 22, 2009 (SinoCast Daily Business Beat via COMTEX) -- The Chinese and foreign shareholders of Shanxi Asian American-Daning Energy Co., Ltd. (Asia American-Daning) are fighting for the controlling right in the coalmine. Currently, Shanghai-listed Shanxi Lanhua Sci-tech Venture Co., Ltd.

(600123.SH) takes a 36% stake in the Asian American-Daning; Banpu, a leading energy enterprise in Thailand, holds a 56% stake in the joint venture. Now, Lanhua Group as the parent company of Lanhua Sci-tech vows to get back the controlling right in Asian American-Daning. Based in Jincheng City, Lanhua Group is one of the biggest and most profitable coal enterprises in Shanxi. As early...

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