(Reuters) - A planned S$60 million ($47 million) reverse takeover of Singapore bed linen maker Aussino Group may not materialise as the firm planning to inject assets into Aussino is linked to a Myanmar businessman on a U.S. blacklist.
Zaw Zaw is on a U.S. government list of "Specially Designated Nationals" because of his friendship with former Myanmar strongman Than Shwe.
"Their assets are blocked and U.S. persons are generally prohibited from dealing with them," the Treasury Department said on its website. Full story
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