Norstar says to buy autoparts firm stake for HK$181.7 mln

Newswire

HONG KONG, Dec 1 (Reuters) - Autoparts maker Norstar Founders Group Ltd. said on Wednesday it had agreed to buy a 40 percent stake in Chinese autoparts manufacturer Profound Global Ltd. for HK$181.66 million (US$23.3 million). Norstar said it would buy the stake from its former non-executive director Liu Zhong Liang and the purchase would be funded by internal resources. Profound Global, which trades and distributes autoparts in China, also produces metal hardware for export to the ...

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