SHANGHAI Bashi Industrial (Group) Co, the city-controlled bus company, will receive assets from Shanghai Automotive Industry Corp as the local government continues a reorganization of its auto-related units, Caijing Magazine said yesterday.

The bus operator, Shanghai's largest, will also exit the public transport business under the plan, it said in a statement filed to the city's stock exchange yesterday. The statement didn't say what assets the company would get.

Shanghai Auto may inject auto-parts related businesses into Shanghai Bashi, the magazine said, without citing anyone.