(Bloomberg) -- Shandong Haihua Co., a Chinese
company that makes soda ash and other chemicals, said its parent
Shandong Haihua Group will own the majority stake in a venture
with Carlyle Group. Its shares surged 10 percent.
State-owned Haihua Group will contribute assets including
its own shares while Carlyle will put up cash, Shandong Haihua
said today in a statement to the Shenzhen Stock Exchange,
without providing financial or production details of the venture.
Haihua, based in Weifang city in eastern China's Shandong
province, signed an initial memorandum for the venture that's
effective until July 5, according to the statement, which didn't
elaborate.
Read more at Bloomberg Emerging Markets News
company that makes soda ash and other chemicals, said its parent
Shandong Haihua Group will own the majority stake in a venture
with Carlyle Group. Its shares surged 10 percent.
State-owned Haihua Group will contribute assets including
its own shares while Carlyle will put up cash, Shandong Haihua
said today in a statement to the Shenzhen Stock Exchange,
without providing financial or production details of the venture.
Haihua, based in Weifang city in eastern China's Shandong
province, signed an initial memorandum for the venture that's
effective until July 5, according to the statement, which didn't
elaborate.
Read more at Bloomberg Emerging Markets News
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