The Zhongshan, China-based firm’s shareholders are working with an adviser to sound out domestic and international investors, the people said, asking not to be identified discussing a private matter. The group, led by local government-backed Zhongshan Torch Group Co. and shareholders including CDH Investments, could agree a deal with potential strategic backers to help operate the business as soon as the end of this year, the people said.
The meeting was conducted in a legal and compliant manner, and there were no instances of illegal conduct, a Jonjee spokesperson said in response to a Bloomberg News query.
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