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-Caveat Lector-
Carlyle Group to be biggest-ever
foreign investor in China SOE

18 April 2006
(CHINA KNOWLEDGE PRESS)

Apr. 18, 2006 (China Knowledge) – American private equity firm Carlyle Group has just received permission to acquire 85% of Xugong Construction Machinery Group Inc., China's largest construction machinery company by revenue.

Carlyle Group will pay US $375 million for the purchase, following the authorization from China’s Ministry of Commerce (MOFCOM), to make it the biggest-ever acquisition by a foreign investor of a controlling stake in a leading State-owned enterprise (SOE).

The deal was announced some six months ago but the MOFCOM and the National Development and Reform Commission (NDRC) have been stalling the decision-making since January.

The sale of the company was kicked off by Xugong's controlling shareholder, the Xuzhou municipal government, in early 2003.


Copyright 2006 www.chinaknowledge.com

www.ctrl.org DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! These are sordid matters and 'conspiracy theory'—with its many half-truths, mis- directions and outright frauds—is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply.

Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at:

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