Change of ownership for Guangdong Tannery?

14 August 2002

Guangdong Investment Ltd have announced that their parent, GDH Ltd, is looking to acquire the company's stakes in subsidiaries Guangdong Brewery and Guangdong Tannery. If the sales proceed, Guangdong Investment would be better placed to focus on their core utilities and tourism-related operations, and there would be an increased likelihood of cash and asset injections into Guangdong Brewery and Guangdong Tannery. Guangdong Investment said GDH are looking to acquire various assets, including Guangdong Investment's 71.6% stake in Guangdong Tannery Ltd, although no formal discussions have taken place. If the deal proceeded, Guangdong Investment would seek a waiver from making a general offer for the remaining shares in the two companies.

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