|
|
 |
|
Viewing report
|
|
|
|
Bulletin: Li & Fung Ltd. Rating Unaffected By The Company's Proposed Acquisition Of IDS
Standard & Poors
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
HONG KONG (Standard & Poor's) Aug. 13, 2010--Standard & Poor's Ratings Services said today that the rating and outlook on Li & Fung Ltd. (A-/Stable/--) remain unaffected by the company's announcement of a cash or scrip offer to acquire Integrated Distribution Services Group Ltd. (IDS) for up to Hong Kong dollar (HK$) 4.4 billion. We view the proposed acquisition as consistent with Li & Fung's existing business strategy. We expect a maximum of about 50% of the minority shareholders of IDS to opt for the cash offer. The Fung family and related parties have committed to take up the share offer. In addition, Li & Fung's operating results in the first half of 2010 are within our previous expectation. The...
Companies mentioned in this report are: Li & Fung Ltd.
Action: Bulletin
|
|
|
|
