Shunfeng shares set to jump 12.6 pct after it wins bid to buy Suntech unit

HONG KONG Sun Nov 3, 2013 8:30pm EST

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HONG KONG Nov 4 (Reuters) - Shares of China's Shunfeng Photovoltaic International Ltd were set to jump 12.6 percent on Monday after it said late on Friday it had agreed to by the main unit of Suntech Power for $492 million.

Reuters had reported in October, quoting two sources close to the matter, that Shunfeng had signed a preliminary deal to buy Wuxi Suntech Power Co.

The Hong Kong-listed shares of Shunfeng were set to open up nearly 13 percent at HK$6.00, outpacing a 0.3 percent gain for the benchmark Hang Seng Index.

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