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China Oceanwide buys 29% stake in Lenovo parent Legend

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China Oceanwide Holdings Group, a private investment firm, on Tuesday bought 29 percent of the stake of Legend Holdings, the parent company of the world's No. 4 PC maker, Lenovo.

Vice president of Legend Holdings Zhu Linan announced the transaction Tuesday, saying Oceanwide bought the stake for 2.76 billion yuan (404.1 million U.S. dollars) through the Beijing Equity Exchange, making it the No. 3 share holder in Legend.

(Xinhua News Agency September 8, 2009)

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