shanghai-industrial-sells-remaining-noncore-assets

Shanghai Industrial sells remaining non-core assets

By exiting stakes in Bright Dairy and SMIC, the red-chip conglomerate can focus on acquisitions for its core businesses.

Daniel Inman

July 29, 2009

Hong Kong-listed red-chip conglomerate Shanghai Industrial Holdings (SIH) has sold its remaining non-core investments: a 30.17% stake in Bright Dairy and an 8.2% holding in Semiconductor Manufacturing International Corporation (SMIC), raising a total of $368 million.

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