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The local government of Bozhou in Anhui Province is offering local distiller Anhui Gujing Group to domestic and overseas investors for at least 1.08 billion yuan.

The group's assets include a 62.6 percent stake in Shenzhen-listed Anhui Gujing Distillery Co.

Stakes are for sale through the Hefei Asset and Equity Exchange until February 13.

Foreign bidders must have at least $200 million in assets, or manage assets of no less than 1.5 billion yuan, while domestic bidders must have a registered capital of more than 200 million yuan and net assets of more than 1.5 billion yuan.

All potential buyers must have had at least 1.5 billion yuan in 2005 sales and 100 million yuan in profit.

They are also required retain the group's spirit business as well as its brand after a takeover.

(For more biz stories, please visit Industry Updates)