SHENYANG Machine Tool (Group) Ltd (stock code: 000410) sold a 30 percent stake to US-based Cornerstone Financial Co, Xinhua news agency said last night, citing the head of Shenyang's state assets agency, which owns Shenyang Machine.

Liu Yongsheng, chief of Shenyang's State-owned Assets Supervision and Administration Commission, said Shenyang Machine is still looking for a buyer for the remaining 19 percent stake, without giving details of the Cornerstone sale, Xinhua reported. China's largest machine-tool maker put 49 percent of the company up for sale last November though the Shanghai United Assets and Equity Exchange, according to the news agency.