SAIC Motor completed the acquisition of a 71% stake in Dongzheng Auto Finance for $237m.

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.