Offeror seeking to take Lizhong private has 84.15%

Singapore

THE offeror making a bid to take China-based Lizhong Wheel Group private has garnered a stake of 84.15 per cent as at 5pm on Friday - close to the 90 per cent level that will turn the offer unconditional.

This came after Berkley International acquired an interest of 14.28 per cent on Friday. This added to the 69.87 per cent stake which it has from irrevocal undertakings - 64.23 per cent from Li Zhong Investment Ltd and 5.64 per cent from other undertaking shareholders.