Overseas sales Miju Luzhou Suspension.docVIP

 PAGE \* MERGEFORMAT 7 Overseas sales Miju Luzhou Suspension July 10, Luzhou city, an official told reporters, Luzhou (000,568) to the overseas sale of state-owned holding the right thing may be in a paused state. The reason is institutional reform - Luzhou some of the functions of state-owned assets of the Authority and the Finance Bureau and together, while the SASAC had not been established, the matter did not know which department is responsible for this. The operation of the matter before the Deputy Mayor of Luzhou City, CAI Bing was transferred to the recently appointed Chairman of Federation of Trade Unions. Luzhou, chairman of the Secretary Zhang said, ‘This thing has been by large shareholders (Luzhou Guozi Ju) to operate. Just knew it was not signed a contract, there are some things that intentionality. ‘ Whether the reasons for such a simple? Because many international buyers and investment banks have been involved, suspension of the news will undoubtedly make a sale more complicated and confusing. Launched the West Chemical City As of the end of March 2003 first quarter report, there are a total of 525 million shares of Luzhou, net assets per share of 2.84. Among them, Luzhou Luzhou State-owned Assets Authority holds 69.56 percent of the state-owned shares. In 2002, China’s consolidated share of liquor, the Luzhou slightly inferior to Wuliangye, in which a market share of 8.89% Wuliangye, Luzhou to 8.26%, to 7.30 percent Moutai. Several months ago, Deputy Mayor of Luzhou City, CAI Bing clearly stated that if the conditions are right, did not rule out give up a controlling stake in Luzhou. It is understood that Luzhou Guo Ziju sell shares of state-owned shares was triggered by the government short of money Luzhou - due to be launched in western chemical Luzhou City, government needs to realize a number of assets, access to finance. Luzhou City Planning Commission, the Director of Investment Department, said Zhou Yi, chemical city will launch th