Ascendent supports buyout of HK-listed China Automation
Ascendent Capital Partners has teamed up with the chairman and founder of China Automation Group to invest HK$549.5 million ($70.8 million) in the Hong Kong-listed company, triggering a mandatory buyout offer.
According to a filing, a consortium comprising Ascendent and Ruiguo Xuan acquired a 100% interest in Consen Group, which holds a 44.62% stake in industrial components manufacturer China Automation. Xuan...
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