Brief: Honghua Group Announces Termination Of Public Tender Regarding Potential Disposal

Honghua

18/09/2018 15:39

Sept 18 (Reuters) - Honghua Group Ltd  0196.HK :
    * ANNOUNCES TERMINATION OF PUBLIC TENDER REGARDING POTENTIAL
DISPOSAL
    * PUBLIC TENDER CONDUCTED ON SUAEEX TERMINATED BY CO DUE TO
FINANCING DIFFICULTIES ON PART OF POTENTIAL BUYER
    * PLANS TO DISPOSE CO'S 51 PERCENT STAKE IN JIANGSU OFFSHORE
AND
51 PERCENT STAKE IN SHANGHAI OFFSHORE THROUGH NEW PUBLIC TENDER
ON SEPT 19
    * NEW PUBLIC TENDER WILL HAVE A TENDER PERIOD OF 20 WORKING
DAYS,
COMMENCING ON 19 SEPTEMBER 2018 AND ENDING ON 22 OCTOBER 2018
    * IN ADDITION CO WOULD ALSO SELL ITS 70% STAKE IN TANK TEK, 
ITS
30% STAKE IN PRIME, ITS 25% EQUITY INTEREST IN FSP TO SHANGHAI
OFFSHORE
    * PURSUANT TO NEW PUBLIC TENDER, BUYER OF DISPOSAL OF
OFFSHORE
SEGMENT TO MAKE SECURITY DEPOSIT OF RMB40 MILLION UPON TENDER
CLOSING

Source text for Eikon:  ID:nHKS68T3hD 
Further company coverage:  0196.HK 

 ((Reuters.Briefs@thomsonreuters.com;))