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Jailed Gome founder to buy UK aircraft carrier

China.org.cn, July 12, 2011

The??HMS Ark Royal. [File photo]

Huang Guangyu, former chairman of Gome Electrical Appliances who was jailed to 14 years for insider trading and market manipulation, took part in the auction for a British Royal Navy's aircraft carrier, the?Beijing Times reported.

Hong Kong-based Eagle Vantage Asset Management Limited (Eagle), where Huang is the ultimate beneficiary, took part in the bid on Huang’s behalf.

If Eagle wins the bid, it will transport the aircraft carrier to Hong Kong or Macao and reconstruct it into a flexible exhibition platform to showcase luxury goods, said Eagle's project manager in charge of the bid.

But Eagle refused to disclose the bid price.

The bid result will be announced at the end of July.

In March this year, the UK's Ministry of Defense invited bids for the navy's former flagship, HMS Ark Royal, on its auction website. The Ark Royal was decommissioned in March this year after providing 25 years of service to the British navy.

Eagle is registered in Hong Kong, but its business also covers the Chinese mainland, including home appliances and electronic product retail, real estate investment and operating clubs.