STANDARD Chartered Asia has recommended that Win Win International Holdings' shareholders accept $1.388 a share as part of a $416 million buyout by Texan Management.
Texan said it would continue the group's existing activities in property investment, textile machinery trading and manufacturing as well as other related businesses.
In a letter to shareholders it said it 'does not intend to make any material changes to the existing core business of the group'.
It said it also intended to maintain the group's listing on the stock exchange.
The offer is for 299.73 million shares, valued at about $416 million.
Standard Chartered has been appointed as the independent financial adviser for the acquisition, which Texan is making through Goldwyn Capital.
