Parking space deal
Forty years after his death, two of Bruce Lee's siblings reminisce about their famous brother's life and a legacy that is inspiring a whole new generation of fighters. Jo Baker reports.
AWT World Transport is diversifying into property with the purchase of 60 car parking spaces at Whampoa Garden from China Strategic Holdings in a deal worth $47 million.
Under the deal, AWT will issue to China Strategic an unsecured convertible note due in 1998 of which $40 million is convertible into AWT shares at an initial conversion price of 80 cents a share.
Assuming full conversion, China Strategic will hold 18 per cent of AWT's enrlarged share capital.