Wednesday, July 4, 2007

Buyout firms circle $4.2 billion HK property firm

(Reuters) - The firm issued a statement on Wednesday confirming discussions, but it would not comment further on a South China Morning Post report on Tuesday that mentioned bids from the Children's Investment Fund Management , Och-Ziff Capital Management Group, Marathon and Fortress Investment Group, and U.S. buyout firm Texas Pacific Group .




Its shares hit a record high of HK$16 in morning trade, and were trading up 19 percent at HK$14.66 by 0722 GMT, giving the firm a market value of HK$33 billion .


Read more at Reuters.com Business News

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