Bid for aircraft carrier
By Zhang Xuanchen |
July 13, 2011, Wednesday
|
Print Edition
Print Edition
A HONG Kong-based company whose biggest shareholder is Huang Guangyu, China's jailed home appliance tycoon, has bid for a retired British aircraft carrier and, if successful, the firm plans to alter it into a luxury goods exhibition center.
Eagle Vantage Asset Management Limited has submitted a bid for the British Royal Navy's former flagship HMS Ark Royal, a Beijing News report said yesterday.
The bid has triggered public interest as Huang, Eagle Vantage's largest shareholder, will be the ultimate beneficiary if the bid for the aircraft carrier proves successful, the newspaper said.
Huang, the founder and former chairman of GOME Electrical Appliances, was once the Chinese mainland's richest man.
He is now serving a 14-year sentence after being convicted of bribery, insider trading and illegal business dealings last year.
But Eagle Vantage's Zhao Qiguang denied the bid has any connection with Huang.
Zhao, who is in charge of the bid, said the company is attempting to expand business.
If they succeed, they will convert the aircraft carrier into a luxury goods exhibition center where high-end shopping, travel and leisure services will be provided to a limited number of members.
Zhao said the decision to make a bid was made by the firm's managers and had nothing to do with Huang.
"Although Huang is our biggest shareholder, he doesn't participate in the company's operations," Zhao added.
Zhao did not reveal the amount of the bid.
Eagle Vantage Asset Management Limited has submitted a bid for the British Royal Navy's former flagship HMS Ark Royal, a Beijing News report said yesterday.
The bid has triggered public interest as Huang, Eagle Vantage's largest shareholder, will be the ultimate beneficiary if the bid for the aircraft carrier proves successful, the newspaper said.
Huang, the founder and former chairman of GOME Electrical Appliances, was once the Chinese mainland's richest man.
He is now serving a 14-year sentence after being convicted of bribery, insider trading and illegal business dealings last year.
But Eagle Vantage's Zhao Qiguang denied the bid has any connection with Huang.
Zhao, who is in charge of the bid, said the company is attempting to expand business.
If they succeed, they will convert the aircraft carrier into a luxury goods exhibition center where high-end shopping, travel and leisure services will be provided to a limited number of members.
Zhao said the decision to make a bid was made by the firm's managers and had nothing to do with Huang.
"Although Huang is our biggest shareholder, he doesn't participate in the company's operations," Zhao added.
Zhao did not reveal the amount of the bid.
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