FAW Group to acquire a 5% stake in Leapmotor for $534m.

Synopsis

FAW Group, a Chinese state-owned automobile manufacturer, agreed to acquire a 5% stake in Leapmotor, a Chinese automobile manufacturer headquartered in Hangzhou, specializing in developing electric vehicles, for $534m.

Principals

target

Zhejiang Leapmotor Technology Co (leapmotor)

bidder

Faw Group

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Market Context