Friday 29 Mar 2024
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SINGAPORE (Jan 29): A Hong Kong-listed subsidiary of China’s HNA Group had terminated its acquisition of shares in SGX-listed Sapphire Corporation “by way of mutual consent”.

The Hong Kong company, Hong Kong International Construction Investment Management Group Co, had wanted to buy shares from two of Sapphire’s shareholders that would make it the largest shareholder with a combined stake of nearly 28%.

Sapphire Corporation, which specialises in engineering works for China’s railway projects, was expected to benefit from wider access to resources and contacts from HNA in winning more projects... (Click here to read the full story)

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