July 14 – Pangda Automobile Trade (601258) became the sole agent of Brabus in China, reports caijing.com.cn, citing company chairman Pang Qinghua.

Brabus was founded in 1977 in Bottrop, Germany and offers high-performance car and yacht tuning services. The company, which tunes primarily Mercedes-Benz automobiles, entered the China market in April this year.

Pang says the transaction is pending the approval of the National Development and Reform and is expected to make a public filing by the end of July.

Pangda will build outlets on Brabus’ behalf, the report added.