Chengxin Acquires 20% Stake in Lucky Film     

Following the approvals by the Ministry of Commerce of China and China Securities Regulatory Commission, Guangzhou Chengxin Chuangye Investment Co., Ltd. (Chengxin) will acquire the 20% stake in Lucky Film Co., Ltd. (SH: 600153) Shanghai-listed Lucky Film says.
   Earlier, Lucky Film, China's largest photographic film company, announced its parent Lucky Film Group would spin off a 7% stake in Lucky Film to Kodak China. And then Kodak China and Kodak China Investment would sell totally the 20% equity in Lucky Film to Chengxin, for a consideration of US$37 million. (CCR2007 No. 33)
   Chengxin is a private investment company in Guangzhou of Guangdong province. The chairman of Chengxin is the majority shareholder of Kingfa Sci & Tech Co., Ltd. (SH: 600143), which is engaged in the development, production and sales of modified plastics.