![]() However, the plan has been put on hold due to differences in valuations and financing difficulties, said one of the people. 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. 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 is one of the leading automotive manufacturers in China through its subsidiaries, associated companies and joint ventures in the PRC. Huachen said the information was false but did not elaborate. During 2009, the Group disposed of its loss-making Zhonghua sedan business. Brilliance China is one of the leading automotive manufacturers in China through its subsidiaries, associated companies and joint ventures in the PRC. Brilliance, Liaoning Provincial Transportation Investment Group did not immediately respond to requests for comment. Brilliance China Automotive Holdings - Business Information. 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. Brilliance China is expected to receive nearly 28 billion yuan (4.41 billion) in cash from BMW by February 22 in accordance with the equity transfer agreement, the Chinese automaker said in a. Huachen Automotive Group Holdings Huachen Automotive Group Huachen. is an investment holding company principally engaged in the manufacture and sales of bavarian motor works (BMW) vehicles in China. ![]() Need To Know: Brilliance produces minibusses, sedans, and automotive components, as well as gasoline and diesel engines. BMW Brilliance manufactures its vehicles in Shenyang, China, producing up to 200,000 units in 2012. Shares of Brilliance China Automotive (1114) slumped 63 percent when it resumed trading as its subsidiary revealed a loss of 4.06 billion yuan (HK4.47 billion) as a result of providing loan. It would then make a mandatory bid for the rest of Brilliance's shares. Chinese state-owned automotive manufacturing company and parent of Brilliance Auto. Brilliance China Automotive Holdings Ltd. Brilliance owns several other brands, such as BMW Brilliance, Brilliance Shineray, and Jinbei. ![]()
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