Shandong Ruyi looks to sew up deal for stake in Japanese clothing maker
By Yu Tianyu | China Daily | Updated: 2010-05-25 08:02
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Workers oversee production at a Shandong Ruyi plant in Linyi, Shandong province. Shandong Ruyi is expected to become the largest shareholder in Japanese clothing maker Renown Inc. Guo Guangyao / for China Daily |
BEIJING - The share price of Shandong Jining Ruyi Woolen Textile Co Ltd, the listed arm of Chinese textile manufacturer Shandong Ruyi Group, surged 7.42 percent on Monday after media reported that it expects to pay about $45 million for roughly a 40 percent stake in Japanese clothing maker Renown Inc.
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