Shunfeng will invest up to 3bn yuan ($493m) in Wuxi Suntech under the terms of a deal that must now be approved by the latter’s creditors, according to Reuters, which quoted anonymous sources.
Shunfeng first emerged as a bidder for Wuxi Suntech two weeks ago.
The sense that the situation is nearing its endgame was heightened yesterday, when Shunfeng asked that its shares were suspended on the Hong Kong Stock Exchange pending an announcement regarding a “very substantial acquisition”.
Wuxi
