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Deutsche Bank offers to buy 40% of Sanjiu

(China Daily)
Updated: 2007-03-14 10:19

A group of investors led by Deutsche Bank AG has offered 4 billion yuan for a 40 percent stake in Sanjiu Enterprise Group, the 21st Century Business Herald said, citing an unidentified person.

The Deutsche Bank offer, the highest of five bids that included China Resources Group and Fosun Group, may give it a chance to jointly restructure the medicine maker with China Resources, the report said.

China Resources, which has offered 3.9 billion yuan for a 70 percent stake, is favored by the State-owned Assets Supervision and Administration Commission, the Guangzhou-based newspaper said.