Economy · World
Chinese Automakers GAC and FAW Consider Joint Venture Stake Sale
Guangzhou Automobile Group Co. (GAC) is planning to purchase a stake in an automotive joint venture from China FAW Group Corporation. The move involves a filing that indicates GAC's intention to acquire FAW's share in their joint venture. This potential transaction between two major Chinese state-owned automakers, GAC and FAW, concerns their existing automotive joint ventures, including operations related to Toyota. The specific details of the stake sale and the valuation are not disclosed in the provided coverage.
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- Centre (2): Reuters, South China Morning Post