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HNA-linked acquirer terminates purchase of stake in Sapphire Corp

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HNA-linked acquirer terminates purchase of stake in Sapphire Corp

Chan Chao Peh Published on Mon, Jan 29, 2018 / 6:42 PM GMT+8

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SINGAPORE (Jan 29): A Hong Kong-listed subsidiary of China’s HNA Group had terminated its acquisition of shares in SGX-listed Sapphire Corporation “by way of mutual consent”.

The Hong Kong company, Hong Kong International Construction Investment Management Group Co., had wanted to buy shares from two of Sapphire’s shareholders that would make it the largest shareholder with a combined stake of nearly 28%.

See: Sapphire Corp on track to win more rail contracts with HNA backing

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