Business Digest

PUBLISHED : Thursday, 12 April, 2012, 12:00am
UPDATED : Thursday, 12 April, 2012, 12:00am


Li Ka-shing pays C$200m to boost stake in Husky

Hutchison Whampoa chairman Li Ka-shing paid about C$200 million (HK$1.55 billion) to increase his stake in Canadian oil producer Husky Energy. He bought 7.87 million shares at an average price of C$25.44 each in an off-exchange transaction, raising his stake in Husky from 69.15 per cent to 69.4 per cent. Yvonne Liu

Novelis plans automotive sheet factory in Jiangsu

Novelis, an aluminium rolled-products subsidiary of Indian aluminium and copper producer Hindalco Industries, will build its first automotive sheet making facility in China. Located in Changzhou, Jiangsu province, the US$100 million plant is expected to come on stream in late 2014. Eric Ng

Key Samsonite investors pack up, sparking sell-off

Samsonite was hit by a wave of selling yesterday after news broke that cornerstone shareholders private equity group CVC Funds and Royal Bank of Scotland were unloading its shares. The two are selling up to 8 per cent of the company's stock at a 4.7 per cent discount to the shares' closing price on Tuesday. May Chan