China Railway Erju Co. said that bankrupt U.S. investment bank Lehman Brothers Holdings has not contacted the company over the current status of their joint venture project, Dow Jones Newswires reports.
It is not clear whether and how China Railway Erju Co. and Lehman
Brothers' unit ALAM Southwest Holdings are dealing with the agreed
joint venture. "We have not heard from Lehman yet," an official of Erju
was quoted by Dow Jones. The spokesman reportedly also said he does not
believe that Lehman's bankruptcy has a material impact on the joint
venture.
An April, Erju and Lehman Brothers' branch ALAM Southwest Holdings
agreed to jointly invest USD40.54m in a joint venture to develop
infrastructure projects and industrial parks in China. The Chinese were
to hold 51 per cent of the JV, while ALAM would take the remainder.
|
|
|
Users' Comments  |
|
Average user rating
|
|
Add your comment
|
News & Interviews 
