Assets of Anhui's largest private shipbuilder, troubled Dongfang Shipbuilding Group Co Ltd. (Zongyang), could be on the block, according to news reports.
Local Chinese media quoted a source from Singapore restructuring firm FTI Consulting as saying Dongfang is preparing to sell off some of its assets, and may also have a recapitalizion plan..
The ambitious new shipbuilder was ignominously delisted from the London Stock Exchange earlier this year after being listed for just a year, after being mired in mounting debts of at least CNY1.3bn.
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