Shanghai International Bids 1.2B for Haitong Stake
Chinese investment group Shanghai International offered to acquire a 51 percent stake in Haitong UniTrust for approximately 1.2 billion dollars. The proposal includes a significant premium for Hong Kong shares, with trading expected to resume soon.
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China-backed Shanghai International offered to buy a 51% stake in HAITONG UNITRUST INTERNATI-H for $1.16B on Friday morning. The deal consolidates state control over the financial leasing firm through a dual-tranche acquisition. The offer provides investors an 80% premium over the target's October closing price before trading was halted.
