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Article: China : Shanghai Bashi to have SAIC as big shareholder.
- Article from:
- TendersInfo
- Article date:
- August 18, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: sujit03
The restructuring plan released by Shanghai Bashi Industrial (Group) Co today showed that the company may choose to buy 23 auto-parts company from the previous fixed 31. Compared to the initial proposal, three non-profitable companies and two companies failing to merger are abandoned, said Shanghai Securities News today.
Shanghai Bashi has projected three steps for the final restructuring strategy: first, 30.003% Beijing Bus shares held by Shanghai Jiushi Corporation and two other groups will be transferred to Shanghai Automotive Industry Corporation (SAIC) for free; second, except the shares of China Minsheng Bank and Industrial ...