Qinhuangdao Tianye Tolian Heavy Industry Co., Ltd. (SZSE: 002459) announced yesterday that it has taken a 51% stake in Italy's Eden.
Tianye Tolian spent EUR 4.5 million on this equity transfer. The company has finished the procedure for acquiring the equity of Eden in Italy, and is still going through the procedure to be approved by Chinese authorities concerned. After this equity transfer, Tianye Tolian's wholly-owned subsidiary Tomac International Co., Limited will never take shares in Eden.
Source:
http://www.sinocast.com/readbeatarticle.do?id=93360
