# Luen Thai Holdings to sell 50% stake in Sunrise Luen Thai Textile Joint Stock Company

Luen Thai Holdings' subsidiary Sunny Force Limited agreed to sell its 50% stake in Sunrise Luen Thai Textile Joint Stock Company to Shengzhou Shengtai Knitting Co., Ltd. for $4.3 million, plus repayment of shareholder loans of $3.2785 million.

- Type: Acquisition
- Announced: 2018-09-06
- Where: Vietnam, Vietnam
- Value: $4.30M
- Status: announced
- Products: spun yarn
- Sectors: [Industrial Textiles](https://endata.com/sectors/industrial-textiles.md)

## Companies

- [Luen Thai Holdings](https://endata.com/companies/34151.md)
- [Sunny Force Limited](https://endata.com/companies/34152.md)
- [Shengzhou Shengtai Knitting Co., Ltd.](https://endata.com/companies/34153.md) (acquirer)
- [Sunrise Luen Thai Textile Joint Stock Company](https://endata.com/companies/34154.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/150352.html), 2018-09-06: "联泰控股(00311)发布公告，附属Sunny Force Limited拟向嵊州盛泰针织有限公司出售Sunrise Luen Thai Textile Joint Stock Company50%股权，总代价为430万美元及目标已同意于当日按于偿还日期的面值偿还股东贷款，为327.85万美元。"

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.