Anhui Golden Cattle has sold its
controlling in interest in two breweries to local governments, China Business News reports. Golden
Cattle, which is currently listed under special treatment on the Shanghai stock exchange,
and which has had two successive losing years, may be able to escape a
delisting with this infusion of more than 32 million yuan (US$3.95 million) it
received for its 99% interest in Lujiang Golden Sun and Anhui Golden Sun
breweries. The sale comes despite the two breweries losing up to 14.4 million
yuan (US$1.78 million) this year, and illustrates the desire of the local
governments to assist listed companies; if Golden Cattle were to have a third
successive losing year, it would be forced to halt trading.
ST Anhui Golden Cattle: 600199.SH
Link:
http://dycj.ynet.com/article.jsp?oid=6912872