SA LAUNCHES BUYOUT TO FUEL COMMERCIAL-VEHICLE UNITS
AsiaInfo Services, June, 2007
AsiaInfo Services 06-22-2007 shanghai automotive co[(saiuf)]\ shanghai industrial holdings ltd.[(sghif)] SA Launches Buyout to Fuel Commercial-vehicle Units SHANGHAI, Jun 22, 2007 (SinoCast via COMTEX) -- Shanghai Automotive Co., Ltd. (SA), a listed subsidiary of China's leading passenger vehicle manufacturer Shanghai Automotive Industry Corporation Group (SAIC), announced days ago that it has entered into an agreement with Shanghai Industrial Holdings Ltd., an arm of the city's municipal government, to take over a respective 50% stake the latter held in Shanghai Huizhong Automotive Manufacturing Co., Ltd.
and Shanghai Wanzhong Automotive Components Co., Ltd. The assets buyout, which will cost SA as much as USD 1.475 billion, is expected to play an...
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