Legend Holdings, the parent company of the Chinese PC maker Lenovo Group, has announced that China Oceanwide Holdings Group, a Chinese real estate development company, has become the third major shareholder of Legend Holdings, and Liu Chuanzhi, chairman of Lenovo and president of Legend Holdings, was appointed new chairman of Legend Holdings.
According to reports in local media, China Oceanwide acquired a 29% stake in Legend Holdings for CNY2.755 billion from Chinese Academy of Sciences Holdings. On the completion of the acquisition, CAS Holdings is still Legend Holdings' largest shareholder and owns a 36% stake, followed by Employee's Shareholding Society of Legend Holdings, holding a 35% stake.
In addition, Zeng Maochao, former chairman of Legend Holdings, announced new members of the company's board of directors, including Liu Chuanzhi, Deng Maicun, Zeng Maochao, Lu Zhiqiang, and Zhu Linan. Liu was appointed new chairman of Legend Holdings.