China’s Anhui Xinke Backs Out of Voltage Pictures Acquisition
China’s Anhui Xinke Backs Out of Voltage Pictures Acquisition
Chinese copper manufacturing company Anhui Xinke New Materials has backed out of the acquisition of Voltage Pictures, according to multiple media reports. The company instead plans to acquire a 29.9 percent stake in Hong Kong-based Pegasus Entertainment for $25 million, according to Reuters. Multiple media reports claim that Xinke, in a regulatory filing to the Shanghai Stock Exchange on…
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