Hong Kong-listed GSI’s shares have been suspended since 7April to allow the “significant assets restructuring” to be carried out,although no details had emerged before an announcement on Wednesday.

Now GSI has revealed : “It has beeninitially determined that the shipbuilding-related business of CSSC in southernChina is proposed to be injected into the company.”

An army of financial advisors, lawyers andaccountants are beavering away on deals, but the complex work is taking longerthan expected.

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