Brief: China Grand Automotive Services announces outcome of takeover bid for shares of Boaxin Auto Group

Grand Baoxin Auto

23/06/2016 06:54

June 23 (Reuters) - China Grand Automotive Services Co Ltd 
 600297.SS :   
      
    * Says 99.1 percent shareholders of Boaxin Auto Group 
 1293.HK  accepted takeover bid offer of the company and the 
company will buy 75 percent stake in Boaxin Auto as planned  
    * Says Boaxin Auto Group will still be listing on Hong Kong 
Stock Exchange after the transaction    
    * Says the company launched takeover bid for up to 75 
percent stake in Boaxin Auto Group, at HK$5.99/share, in Dec. 
2015 
     
    Source text in Chinese:http://goo.gl/M1xsYc 
    Further company coverage: 600297.SS   1293.HK  
 
 (Beijing Headline News) 
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