Nanjing Auto and Iveco are expected to complete discussions on the merger of Nanjing’s light truck unit Yuejin Vehicle with its 50-50 joint venture with Iveco SpA, Nanjing Iveco, by June or July, according to the AFX news agency.
Go deeper with GlobalData
Iveco, a unit of Fiat SpA, plans to increase its investment in Nanjing Iveco by CNY800m (US$99.5m), while Nanjing Auto will give its light truck assets to the joint venture, reported AFX citing the China Automobile News.
Last week (22 February) just-auto reported that Nanjing, which bought MG Rover last year, has inked a 33-year deal on the UK Longbridge site it is leasing from St Modwen Properties.
