China Oceanwide buys 29 pct stake in Lenovo parent
Published: 04 Sep 2009 00:58:06 PSTSHANGHAI, Sept 4 - China Oceanwide Holdings Group, a private investment firm, said on Friday it had bought 29 percent of Legend Holdings, the parent of the world's No. 4 PC maker, Lenovo.
A spokeswoman for China Oceanwide said the firm bought the stake for 2.76 billion yuan ($404.1 million) and that more information would be available at a media event next Tuesday.
The asset management unit of the Chinese Academy of Sciences was seeking 2.76 billion yuan for the 29 percent stake of Legend Holdings.
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