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Dutch pension fund buys Huiyuan covertible bonds -HKEx

Published 06/16/2009, 06:13 AM
Updated 06/16/2009, 06:16 AM
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HONG KONG, June 16 (Reuters) - Stichting Pensioenfonds ABP, the pension fund for government and education employees in the Netherlands, bought convertible bonds of China's top juice maker Huiyuan, according to a disclosure issued on Tuesday by the Hong Kong Stock Exchange (HKEx).

Stichting Pensioenfonds ABP, which means "National Civil Pension Fund" and is often known as ABP, bought convertible bonds of China Huiyuan Juice Group equivalent to a 6.3 percent stake in the company, according to the HKEx disclosure.

The transaction was made on May 23, the statement said.

Last week, Huiyuan, the target of a US$2.4 billion takeover offer by Coca-Cola that failed to win Beijing's approval, said its chairman and controlling shareholder, Zhu Xinli, had no intention of reducing his stake in the company.

Zhu's comments came after U.S. private equity fund Warburg Pincus [WP.UL] indicated it would redeem convertible bonds it held in the juice maker.

Warburg Pincus had declined to exercise an option to swap its convertible bonds for a 7 percent equity stake in China's leading juice maker, ending its investment in Huiyuan, the Financial Times reported last week. (Reporting by George Chen and Fion Li; Editing by Chris Lewis)

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