Goldman to Buy 10 Pct Stake in China Glass Maker

SHANGHAI, Nov 20 (Reuters) - China's Fuyao Group Glass Industries Co. Ltd. (600660.) said on Monday that Wall Street bank Goldman Sachs plans to buy a 9.98 percent stake in the country's biggest auto glass maker for 890 million yuan ($113 million).

Fuyao will issue new shares in a private placement for 8 yuan a piece to an investment arm of Goldman Sachs, it said in a statement.

The stock placement comes after talks between Ford Motor Co. and Fuyao on the sale of some of Ford's North American glass-making assets were halted indefinitely, industry sources told Reuters in September. ($1=7.87 Yuan)

600450 Goldman to Buy 10 Pct Stake in China Glass Maker

See more news about:

Others also read

Recently, LandGlass was named as one of the “Outstanding Private Enterprises in Luoyang - High Growth Innovative Entities” by the CPC Luoyang Municipal Committee and the People’s Government of Luoyang Municipality.
On November 22, the municipal office of civilization and office of credibility held the “2018 Credible Private Enterprises” commendation conference at the 2nd floor conference room of the Luoyang city hall.
Permasteelisa S.p.A welcomes the LIXIL Group Corporation’s announcement about the agreement with Grandland Holdings Group Limited, a leading Chinese architectural design and construction company, to terminate planned Permasteelisa transaction.
Asia’s No. 1 fenestration exhibition - FENESTRATION BAU China 2018 (”FBC”) concluded on November 3, 2018 in Beijing.
Recently, a delegation from Guizhou Glass Association consisting dozens of members led by the association chairman Peihua Zhu, the standing vice-chairman Ronghui Li, and the secretary general Guangwei Xu visited LandGlass.
One Who Climbs Upon The Highest Mountains May Laugh At All Hardships.

From industry

No. 160 Yichuan Rd.,
Jiaonan Shi
Qingdao Shi
Shandong Sheng, 266000

Add new comment