China: Guangzhou offers US$3.3bn for 62% of Denway

Guangzhou Automobile Group has offered around HK$26bn (US$3.3bn) to buy out the remaining 62% of Hong Kong-traded affiliate Denway Motors Ltd that it does not already own. Guangzhou Auto's all-stock offer valued the company at HK$41.2bn, around HK$5.49 per share, according to a statement. Guangzhou Auto has offered to buy the It’s time to log … Continued

• By Webmaster
• May 19, 2010