KUALA LUMPUR (Jan 9): Xidelang Holdings Ltd said its major shareholder HongPeng International Holdings Ltd does not have any plans to sell its stake.
In confirming The Edge report, Xidelang said it had made due and diligent enquiry with HongPeng which replied while it had been receiving enquiries from external parties including private equity firms, “but HongPeng has no intention of selling its stake at this juncture”.
Xidelang also said the discussions between Navis Capital and HongPeng held during October and November last year were solely exploratory in nature and there was no offer being made or a price range indicated by Navis Capital.
“These exploratory discussions were discontinued in late November 2011,” it said.
In confirming The Edge report, Xidelang said it had made due and diligent enquiry with HongPeng which replied while it had been receiving enquiries from external parties including private equity firms, “but HongPeng has no intention of selling its stake at this juncture”.
Xidelang also said the discussions between Navis Capital and HongPeng held during October and November last year were solely exploratory in nature and there was no offer being made or a price range indicated by Navis Capital.
“These exploratory discussions were discontinued in late November 2011,” it said.
