BEIJING (XFN-ASIA) - Mitsubishi Corp has ended its efforts to buy a 10 pct
stake in China's SDIC Zhonglu Fruit Juice Co (SHA 600962) after the two
companies failed to agree on a price, the beverage maker said.
In a statement filed with the Shanghai stock exchange, the beverage company
said it will withdraw its application to the Ministry of Commerce to introduce
an offshore strategic investor.
In July, SDIC Zhonglu said Mitsubishi Corp planned to become a strategic
investor, taking 21.5 mln new shares in a private placement, equivalent to a 10
pct stake.
In April, the beverage company said it was ready to place up to 50 mln
A-shares with up to 10 investors, including its parent, the State Development
and Investment Corp, and strategic investors.
At 2:36 PM, shares of SDIC Fruit Juice traded at 18.31 yuan, down 0.76 pct.
(1 usd = 7.43 yuan)
kelly.zang@xfn.com
xfnkz/xfjamesa/xfntm
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