China Oceanwide Holdings Group, a private investment firm, on Tuesday bought 29 percent of the stake of Legend Holdings, the parent company of the world's No. 4 PC maker, Lenovo.

Vice president of Legend Holdings Zhu Linan announced the transaction Tuesday, saying Oceanwide bought the stake for 2.76 billion yuan (US$404.1 million) through the Beijing Equity Exchange, making it the No. 3 share holder in Legend.

(Xinhua News Agency September 8, 2009)