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Article: BAIC ATTESTS TO BUY 40% OF FUJIAN DAIMLER BEFORE 09-END
- Article from:
- AsiaInfo Services
- Article date:
- November 10, 2009
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AsiaInfo Services
11-10-2009
BAIC Attests to Buy 40% of Fujian Daimler before 09-end
BEIJING, Nov 10, 2009 (SinoCast Daily Business Beat via COMTEX) -- Beijing Automotive Industry Holding Co., Ltd. (BAIC) lately made sure that it would entered into the agreement upon purchase of a 40% stake in Fujian Daimler Automotive Co., Ltd. with Fujian Motor Industry Group Co. (FJMG) this yearend.
Total expense for the deal between Mainland China's two automobile groups is estimated at CNY 600 million to CNY 700 million. However, an insider at BAIC revealed that more details were still in discussion.
After this deal, a light vehicle company that Daimler and Taiwan's China Motor Corporation jointly ...