Latest Sino Gas Intl Hldgs (SGAS) Headlines Sin
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Posted On: 03/11/2014 8:03:45 AM
Latest Sino Gas Intl Hldgs (SGAS) Headlines
Sino Gas International Holdings, Inc. Announces Receipt of Renewed "Going Private" Proposal at $0.50 Per Share
PR Newswire - Mon Dec 09, 6:34AM CST
Sino Gas International Holdings, Inc. (OTC Bulletin Board: SGAS), ("Sino Gas" or the "Company"), a holding company that is engaged in the development of natural gas distribution systems and the distribution, of natural gas to residential and industrial customers in small- and medium-sized cities in the People's Republic of China, today announced that a Special Committee comprised of independent directors (the "Special Committee") of the Company's Board of Directors (the "Board") has received a renewed, non-binding proposal letter (the "Renewed Proposal") dated December 8, 2013 from Mr. Yuchuan Liu ("Mr. Liu"), the Company's Chairman and Chief Executive Officer and President, and an affiliate of Morgan Stanley Private Equity Asia, the private equity arm of Morgan Stanley ("MSPEA"), to acquire all of the outstanding shares of common stock of the Company not currently owned by Mr. Liu (and possibly other rollover shareholders) (the "Shares") in a going private transaction for $0.50 in cash per Share (the "Acquisition"), subject to certain conditions.
Sino Gas International Holdings, Inc. Announces Receipt of Renewed "Going Private" Proposal at $0.50 Per Share
PR Newswire - Mon Dec 09, 6:34AM CST
Sino Gas International Holdings, Inc. (OTC Bulletin Board: SGAS), ("Sino Gas" or the "Company"), a holding company that is engaged in the development of natural gas distribution systems and the distribution, of natural gas to residential and industrial customers in small- and medium-sized cities in the People's Republic of China, today announced that a Special Committee comprised of independent directors (the "Special Committee") of the Company's Board of Directors (the "Board") has received a renewed, non-binding proposal letter (the "Renewed Proposal") dated December 8, 2013 from Mr. Yuchuan Liu ("Mr. Liu"), the Company's Chairman and Chief Executive Officer and President, and an affiliate of Morgan Stanley Private Equity Asia, the private equity arm of Morgan Stanley ("MSPEA"), to acquire all of the outstanding shares of common stock of the Company not currently owned by Mr. Liu (and possibly other rollover shareholders) (the "Shares") in a going private transaction for $0.50 in cash per Share (the "Acquisition"), subject to certain conditions.
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