MG merger talks - ResearchInChina

Date:2007-08-13liaoyan  Text Size:

上海汽车 2.jpg

SHANGHAI Automotive Co (stock code:600104), China's largest car maker, may receive Nanjing Automobile Group Corp's vehicle-making assets as part of a potential merger between its parent and the maker of MG cars. Nanjing Auto's other assets, including auto-parts and maintenance units, will be injected into Shanghai Automotive Industry Corp (Group), Shanghai Auto's parent, Chairman Hu Maoyuan said at a shareholders' meeting yesterday. Due diligence on the merger will be completed within about a month, Hu added. Shanghai Auto wants to add Nanjing Auto's Yuejin trucks and MG cars to its product line-up, which includes Roewe sedans and a venture with Volkswagen AG.

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