Ideal Pacific chairman's stake sale negotiations break down

PUBLISHED : Wednesday, 21 January, 1998, 12:00am
UPDATED : Wednesday, 21 January, 1998, 12:00am

Ideal Pacific Holdings said talks between its chairman Ip Man-man and an independent party for a possible sale of Mr Ip's interest in the company had been terminated. This occurred because of the possible non-fulfilment of a term contained in the letter of intent between Mr Ip and the proposed buyer not relating to the businesses and the assets of the firm and its units. Another party has started discussions to acquire Mr Ip's holding.




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