Qingling Motors to Buy Parent's Entire Stake in Isuzu (China) Engine for 660 Million Yuan
MT Newswires Live
Oct 12
Qingling Motors (HKG:1122) said it will acquire the entire 30.43% stake in Isuzu (China) Engine held by its controlling shareholder, Qingling Group, for 659.9 million yuan, according to a filing with the bourse on Friday.
Following the transaction, the company and Japan's Isuzu will become equal joint venture partners in Isuzu (China) Engine, each with a 50% stake.
The company said it will convene a special meeting to vote on the transaction, and has appointed Rainbow Capital (HK) to advise shareholders.
Shares were last down 1% in late Monday morning trading.
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