Posted AT 3:10 PM EST on 15/01/07
Sino-Forest says Macquarie won't make buyout bid
A consortium including Macquarie Bank Ltd. and CVC Asia Pacific Ltd. does not intend to submit a buyout bid for Sino-Forest Corp., the Toronto-based forest products company said Monday.
In a news release, Sino-Forest said it received a letter from a Macquarie unit, Macquarie (Hong Kong) Ltd., indicating that the company does not intend to submit a bid for Sino-Forest, which is the biggest foreign-owned cultivator of forest lands in China.
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