CHINA: GM signs three-way agreement
Liuzhou Wuling Motors Co. has signed a framework partnership agreement with both General Motors China Group alongside Shanghai Automotive Industry Corp. GM China is set to take a 34 per cent equity stake in the company by purchasing B shares, while Shanghai Automotive Industry Corp. will own 50.1 per cent of Wuling shares - through asset reallocation - becoming Wuling`s majority shareholder.
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