Wuhu Investment plans to divest 51% stake in Wuhu Xinxing Development

Tuesday, 27 November 2018 11:41:48 (GMT+3)   |   Shanghai
       

Wuhu Investment, a subsidiary of Chinese steel pipe maker Xinxing Ductile Iron Pipes, plans to divest itself of its 51 percent stake in Anhui Province-based Chinese asset management company Wuhu Xinxing Development Co., (Wuhu Xinxing Development), a joint venture between Wuhu Investment Co. and Xinxing Development Co., as announced by Xinxing Ductile Iron Pipes Co. Wuhu Investment had invested a total of RMB 25.5 million ($3.7 million) in Wuhu Xinxing Development. Xinxing Ductile Iron Pipes stated that the proposed sale is still in its planning stage, with further details to be disclosed at a later date.


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