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Article: AUTO GIANT ARISING IN ANHUI
- Article from:
- AsiaInfo Services
- Article date:
- July 23, 2009
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AsiaInfo Services
07-23-2009
Auto Giant Arising in Anhui
WUHU, Jul 23, 2009 (SinoCast Daily Business Beat via COMTEX) -- Stimulated by the Chinese government's automobile revitalizing plan, automakers unanimously work out plans to speed up their growth through mergers and acquisitions.
The Anhui government plans to establish Anhui Automotive Industry Group via a restructuring of Anhui Jianghuai Automobile Group Co. Ltd. and Chery Automobile Co., Ltd.
Since the restructuring will be carried out by mutual shareholding, the two parties have begun fighting each other in terms of the growth of sales and market caps in order to have more say in the future.
The involved parties will first audit ...