Home > Analysis > China: SAIC to acquire Shanghai Diesel Engine Corporation in US$127m deal

China: SAIC to acquire Shanghai Diesel Engine Corporation in US$127m deal

Acoording to a report in the English language newspaper China Daily, Shanghai Automotive Industry Corporation (SAIC) is to buy a controlling stake in Shanghai Electric’s diesel engine manufacturing subsidiary, Shanghai Diesel Engine Corporation.SAIC has already signed a stock transfer agreement with Shanghai Electric in this regard, with the deal valued at Yuan 923.4m (US$126.9m). Following SAIC’s ...

Acoording to a report in the English language newspaper China Daily, Shanghai Automotive Industry Corporation (SAIC) is to buy a controlling stake in Shanghai Electric’s diesel engine manufacturing subsidiary, Shanghai Diesel Engine Corporation.

SAIC has already signed a stock transfer agreement with Shanghai Electric in this regard, with the deal valued at Yuan 923.4m (US$126.9m). Following SAIC’s …

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