Haier to Buy Stake in Sister Firm
Jun 30, 2008
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Qingdao Haier Co. has agreed to buy a 20.1% stake in its Hong Kong-listed sibling Haier Electronics Group Co. from Deutsche Bank. The move would enable Qingdao Haier to consolidate its appliance business and gain access to overseas capital markets for expansion. Qingdao Haier will buy 393 million Haier Electronics shares for HK$775.5 million (approx. US$99 million).

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