China's largest computer manufacturer, Lenovo, said it had acquired a five-year syndicated bank loan totaling US$600 million Thursday for its purchase of IBM personal computer business.

 

The main banks granting the loan are the Industrial and Commercial Bank of China (Asia) Limited, the BNP Bank, the ABN AMRO Bank and the Standard Chartered Bank. Other participating banks include 16 banks from the Chinese mainland, Hong Kong and other parts of Asia, America and Europe.

 

Lenovo's recent purchase of IBM's PC division won the United States' government approval following a review by the Committee on Foreign Investment. The deal is due to be finalized by mid-year.

 

(Xinhua News Agency March 26, 2005)