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China Lucky Film Delays Stake Delivery to Kodak.
(From SinoCast China Financial Watch)
BAODING, September 06, SinoCast -- Lucky Film Co., Ltd. (600135.SH) delays the delivery of another seven percent stake to Eastman Kodak, citing the latter has not fulfilled the prerequisite to the deal. In October 2003, Eastman Kodak signed a 20-year cooperative agreement with Lucky Film's parent, Baoding-based Lucky Film Corporation, under which it would pay USD 45 million in cash and present an emulsion production line for a 20 percent stake in the Shanghai-listed company. According to the agreement, Lucky Film Corporation, based in Baoding city, Hebei province, initially sold 44.46 million state shares or a 13 percent stake in …
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