It operates through the following segments: Manufacture. The firm engages in the manufacture and sale of automobiles. However, the plan has been put on hold due to differences in valuations and financing difficulties, said one of the people. operates as an investment holding company. Ltd., a 51 percent-owned subsidiary of the company. Reuters reported in September that Liaoning Provincial Transportation Investment Group was planning to lead a consortium of Chinese state-backed investors to take Brilliance private. Qian, age 45, is currently a vice president and CFO of Shenyang Brilliance JinBei Automobile Co. is an automobile manufacturer located in Shenyang City, Liaoning Province, China. Brilliance China Automotive Holdings Limited, an investment holding company, manufactures and sells BMW vehicles and automotive components in the Peoples. Liaoning province's state asset regulator, which owns a majority stake in Huachen, also did not immediately respond to a request for comment. Brilliance China Automotive Holdings Co., Ltd. Huachen said the information was false but did not elaborate. This holding was created in 2002 by the Liaoning government after the power struggle between Yang Rong and Bo Xilai and used to re-unite all the parts of Brilliance and Jinbei. (1114) Stock Price & News - Google Finance Markets 33,884.16 +149.28 4,403.53 +0.10 +4.58 13,657.62 -0.023 -3.10 1,887.67 +1.23 +23.00 VIX 15.18 +0.35. Wholly state-owned holding company for the Brilliance Group. Brilliance, Liaoning Provincial Transportation Investment Group did not immediately respond to requests for comment. BMW’s China unit is close to a deal to buy production assets worth 252 million from the parent of its main partner, Brilliance Auto, Bloomberg News reported citing people familiar with the. Brilliance (Huachen) Automotive Group Holdings Co., Ltd. To conduct a deal, FAW is looking at setting up an offshore investment vehicle and is seeking other investors, said the sources, who declined to be identified as the discussions were confidential.įAW and BMW declined to comment. It is considering offering about HK$11 per share for the two-stage deal, representing a 70% premium to its average share price over the past month of HK$6.48. It would then make a mandatory bid for the rest of Brilliance's shares.
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