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BRIEF-Guangzhou industry investment fund to buy 30 pct stake in Shanghai AJ
June 2, 2017 / 9:31 AM / 6 months ago

BRIEF-Guangzhou industry investment fund to buy 30 pct stake in Shanghai AJ

June 2 (Reuters) - Shanghai AJ Group Co Ltd

* Says Guangzhou industry investment fund management to buy 431.1 million shares in the company, representing 30 percent total issued share capital, at 18.0 yuan per share for up 7.76 billion yuan ($1.14 billion) in tender offer

* Says Guangzhou industry investment fund, parties acting in concert will hold up to 35.0 percent stake in the company upon the expiration of the term of takeover offer

Source text in Chinese: bit.ly/2qHtOUb

Further company coverage: ($1 = 6.8181 Chinese yuan renminbi) (Reporting by Hong Kong newsroom)

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