Recent mergers and acquisitions
China Daily | Updated: 2009-11-25 08:06
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Following its acquisition of the automotive assets of AVIC, the Chang'an Automotive Group is now the third largest automaker in China. Ma Jian |
Chang'an Motor Corp this month acquired major auto businesses from aircraft maker AVIC, including mini bus producers Hafei and Changhe. In return, AVIC will get a 23 percent stake of Chang'an. Through the deal Chang'an will outstrip Dongfeng Motor Corp to be the third-largest motor group in China.
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