China Merchants sells stake in NTong Technology
The direct investment arm of China Merchants Group plans to sell its entire 12.34% stake in NTong Technology to Shenzhen-listed Unisplendour Corporation (UNIS), for RMB86.36 million ($14.07 million). The proposed deal values the company at about RMB700 million.
China Merchants China Direct Investment (CMCDI) paid RMB66.5 million for a minority stake in the company in 2011, operating via its Shenzhen Tian Zheng Investment vechicle. According to a regulatory...
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