Announced
Completed
Financials
Sources
Tags
China
Majority
auto finance
Friendly
Completed
Consumer Lending
Acquisition
Domestic
Auction
Public
Synopsis
SAIC Motor, an automaker, completed the acquisition of a 71% stake in Dongzheng Auto Finance, an auto finance products and services provider, for $237m. The acquisition is “conducive to the cooperation between both companies at the business level,” SAIC said. It will enable the automaker to provide a wide range of customer resources for Dongzheng AFC, the company added, noting that it also will help SAIC to develop its auto finance business.
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