Bid talks buoy Asia Distribution

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    Date: Wednesday 16 Jul 2008

    LONDON (ShareCast) - China-focused beverages importer Asia Distribution Solutions rallied today on confirmation it is in talks with a third party that might lead to a bid for the company.

    “Discussions are at an early stage, are subject to various pre-conditions, including financing and due diligence, and there can be no certainty that they will lead to an offer being made,” it said in a short statement.

    Last month, the group reported a profit after tax of £70,000 for the first quarter of 2008 compared with £206,000 pro forma net of tax profit for all of 2007.

    That was “just marginally” behind budget, with business hurt by China’s worst snow fall in the past 50 years during February.

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