Leather-jacket maker China Elegance International Fashion says a third party is interested in buying the stake held by majority shareholders Mansyong International Development and Silver Sound Worldwide, controlled by chairman Muwarto Surya. But the shareholders said they had no intention of negotiating with the unidentified third party on the proposal. China Elegance said Mr Surya used 70 million of its shares as collateral for loans from Shenyin Wanguo Capital (HK).
