Daniell
09-17-2007, 09:44 AM
China Technology Development to Buy Shenzhen Soyin's Solar Business in Joint Venture Deal
NEW YORK (AP) -- China Technology Development Group Corp., which provides information network security, said Monday it plans to acquire the solar energy business of Shenzhen Soyin Electrical Appliance Industrial Co. Ltd. through a joint venture agreement between the two companies.
China Technology shares rose $1.09, or 18 percent, to $7.09 in premarket electronic trading.
Under the deal's terms, China Technology will pay $5.8 million in cash toward the venture, in exchange for a 49 percent stake and a voting majority on the joint venture company's board.
Shenzhen Soyin's solar business will be operated by the joint venture.
http://finance.yahoo.com/q?s=CTDC
NEW YORK (AP) -- China Technology Development Group Corp., which provides information network security, said Monday it plans to acquire the solar energy business of Shenzhen Soyin Electrical Appliance Industrial Co. Ltd. through a joint venture agreement between the two companies.
China Technology shares rose $1.09, or 18 percent, to $7.09 in premarket electronic trading.
Under the deal's terms, China Technology will pay $5.8 million in cash toward the venture, in exchange for a 49 percent stake and a voting majority on the joint venture company's board.
Shenzhen Soyin's solar business will be operated by the joint venture.
http://finance.yahoo.com/q?s=CTDC