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          BIZCHINA> Top Biz News

          


          

          
          		

          

          


          

          


          

          



          

          


 

          


          


 

          


          

          


 

          



          ICBC grants huge loans to Shanghai Bailian
          


          By Xu Shenglan (chinadaily.com.cn)
          
 Updated: 2009-02-20 16:18
          



 

          

          Industrial and Commercial Bank of China (ICBC) will offer a 400 million yuan ($58.6 million) merger and acquisition (M&A) loan to help Shanghai Bailian Group buy into the Lianhua Supermarket chain.
          


          The Shanghai branch of the Beijing-based bank issued the loan, which was also ICBC's first for M&A activities.
          


          The loan is expected to help Bailian acquire a subsidiary of Shanghai Industrial Investment (Holdings) Co in order to gain a 21.17-percent stake in Lianhua Supermarket, which has over 3,800 outlets across China. With this deal, Bailian will become Lianhua's largest shareholder and its controlling shareholder.
          


          

          (For more biz stories, please visit Industries)
          

          

          


 



 



          


          


 

          

          

          


          

          


 

          


          


 

          


          


 

          


          


          


 

          

          

          
          		

          

          








           
          


           
          



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