Brief: Baoxin Auto Group says unit entered into agreements for acquisition of entire equity interest of Sichuan Ganghong Enterprise Management

Grand Baoxin Auto

01/11/2016 14:54

Nov 1 (Reuters) -    Baoxin Auto Group Ltd  1293.HK  
    * Company entered into agreements for proposed acquisition 
of entire equity interest of sichuan ganghong enterprise 
management 
    * Beijing yan bao auto service co. Entered into a sale and 
purchase agreement (a with sichuan ganghong investment holdings 
group 
    * Beijing yan bao has agreed to acquire, and ganghong 
investment has agreed to sell, 51% of equity interest of 
ganghong enterprise management 
    * Aggregate consideration payable by company and beijing yan 
bao under acquisition agreements shall be no more than rmb520 
million 
    * Company and beijing yan bao entered into second agreement 
with itochu corporation and itochu china 
    * Company has  agreed to acquire, and itochu corporation has 
 agreed to sell, 25% of equity interest of ganghong enterprise 
management 
 
 
     
     
    Source text for Eikon:  ID:nHKS5r7VsY  
    Further company coverage:  1293.HK  
 
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