CRRC (HKG:1766, SHA:601766) plans to acquire a 2.59% stake in a local financial leasing company for 371.6 million yuan, according to filings with the Hong Kong and Shanghai bourses on Wednesday.
The state-owned rolling stock manufacturer will buy the stake in China National Foreign Trade Financial & Leasing from its controlling shareholder, CRRC Group. CRRC Group holds a 51.5% stake in CRRC.
CRRC said the transaction is in line with its strategic plans.
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