China: SAIC Motor plans asset purchases from parent

According to a Reuters report, citing a statement made by SAIC Motor to the Shanghai Stock Exchange, the Chinese OEM is poised to acquire assets worth Yuan 28.6bn (US$4.36bn) from its parent company, Shanghai Automotive Industry Corporation. According to preliminary estimates, the deal could entail the issue of 1.73 billion Subscribe to Automotive World to … Continued

• By Webmaster
• April 5, 2011