Dongfeng Motor Group (HKG:0489) agreed to acquire 5.238% equity interest in Zhixin Technology Joint Stock for 160.8 million yuan and 0.61% equity interest in Dongfeng Changxing Technology for 19.8 million yuan from its associate Dongfeng Hongtai Holdings Group.
The company's controlling shareholder Dongfeng Motor Corporation also agreed to acquire a 2.81% equity interest in Dongfeng Hongtai from a subsidiary of the company, DF Import & Export, for 64.1 million yuan, a Monday Hong Kong bourse filing said.
After the transfers, the company will directly hold the entire equity interests in Zhixin Technology and Dongfeng Changxing, which will become direct wholly-owned subsidiaries of the company.
After the completion of the relevant transaction, Dongfeng Motor Corporation will also directly hold the entire equity interests in Dongfeng Hongtai which will become its direct wholly-owned subsidiary.
The shares of the holding company mainly engaged in automobile-related businesses were down nearly 2% on Tuesday's close.
Price (HKD): $2.48, Change: $-0.050, Percent Change: -1.98%
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