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Paulson To Sell Sino-Forest Stake
Paulson & Company is selling its stake in China forestry company Sino-Forest.
Paulson & Companyis selling its stake in China forestry companySino-Forest,The Wall Street Journalreports. Paulson owned nearly 35 million shares of Sino-Forest as of April 29, 2011.
Paulson’s paper losses linked to the collapse of Sino-Forest’s shares are nearly $500 million, based on the April 29 holdings. The hedge fund firm’s stake represented over 14% of Sino-Forest’s shares outstanding and almost 1.5% of Paulson’s stockholdings.
Click here for the story fromThe Wall Street Journal.
Click here for additional coverage fromReuters.