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Guangzhou Auto in talks to buy controlling stake in Changfeng Motors - report.
(From AFX Europe (Focus))
BEIJING (XFN-ASIA) - Guangzhou Automobile Industry Group Co Ltd (GAIG), a Chinese joint venture partner of Japan's Honda Motor Co and Toyota Motor Corp, is expected to acquire a controlling stake in Hunan Changfeng Motors Co (SHA 600991), China Business News reported.
Citing unnamed sources, the newspaper said talks regarding the acquisition are nearing an end and that a deal is expected to be announced before the fourth quarter of this year.
No financial details were given.
Officials at both firms …
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