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Non-Tech : CAAFF Celestial Asia

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To: Jonas1 who wrote ()	3/7/2000 9:17:00 PM
From: high.hopes	Read Replies (2) of 19

Trading again. and heading north. 09:59 08-MAR-2000 Celestial to invest in U.S. software firm HONG KONG, March 8 (Reuters) - Celestial Asia Securities Holdings Ltd said on Wednesday its subsidiary Celestial Strategic Investments Ltd (CSI) had agreed to buy a 30.5 percent stake in U.S. software company iLux Corp for US$24 million. About US$10 million of the consideration would be paid in cash and US$14 million would be satisfied in three months from completion either in cash or by the issue of new Celestial shares to iLux at the option of CSI, it said in a statement. Under the agreement, the Silicon Valley-based iLux will grant to CSI the first right to set up a joint venture, which will have the sole rights to sell, provide and apply the products and services offered by iLux for markets in Asia, the company said. ILux aims to deliver innovative enterprise level e-commerce product and service solutions. ((Hong Kong Newsroom +852 2843-6369, Fax +852 2845-0636 hongkong.newsroom@reuters.com)) .

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