New Dynamic of Schaeffler-LBG Event

Resource from: cbcc-yinx Likes:2949

Aug 25,2006

New Dynamic of Schaeffler-LBG Event Several days ago, Schaeffler Group announced that they may consider forming a joint venture with Luoyang Bearing Group, continuing the use of LYC brand, contrasting with their previous determination of fully control of LBG and deserting the LYC brand. However, Schaeffler's concession has not been the determinant since state authorities were involved in the Schaeffler-LBG acquisition. All that could end this event is the further provision that state authorities will publish. August 8, relevant authorities had released provisions to restrict foreign fund in acquiring inbound enterprises. Schaeffler-LBG event, of course, will be influenced. Recently, it is said that some further provisions are likely to be established, which are going to thoroughly exclude Schaeffler from the LBG acquisition contest. As some state officials revealed, the state relevant authorities are likely to protect some national security-related domestic enterprises from foreign funds' acquisition, so as to preserve national and economic security. LBG have great potential of being protected. If this became true, it means Schaeffler, or any other foreign enterprises, would have no chance to acquire LBG.

(cbcc-yinx)

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