Shanghai Automotive Industry Corp. to acquire Nanjing’s Carmaking Business

Shanghai Automotive Industry Corp. to acquire Nanjing’s Carmaking Business
Shanghai Automotive Industry Corp. is the dominating automaker in the Chinese market and they are now acquiring Nanjing Automobile Group Corp.’s auto-assembly and component-making businesses.
They would be paying around 2.1 billion Yuan for this deal. Both the companies are owned by the state.
After the deal [...]