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Sino Forest, WkN: 899033
Sino-Forest Confirms Possible Takeover Bid by CVC, Macquarie
By Steve Stroth
Jan. 12 (Bloomberg) -- Sino-Forest Corp., the largest foreign-owned lumber company in China, confirmed that it has been approached by CVC Asia Pacific Ltd. and Macquarie Bank Ltd. about a possible takeover offer.
``Various parties,\'\' including CVC and Macquarie, have approached the company ``with respect to the possible investment in, or acquisition of, Sino-Forest, the Toronto-based lumber producer said today in a statement distributed by Canada News Wire.
An acquisition of Sino-Forest, which has a market capitalization of $1 billion, would give the buyout firms control of a wood-products maker that increased sales 34 percent annually between 1994 and 2005. The Toronto-listed company\'s shares are poised for the biggest weekly gain since September 2005.
To contact the reporters on this story: Patricia Kuo in Hong Kong at pkuo2@bloomberg.net ; Cathy Chan in Hong Kong at kchan14@bloomberg.net
Last Updated: January 12, 2007 09:39 EST
Quelle: http://www.wallstreet-online.de/informer/...1.1.10.1.1&thread_page=30 |
