Zhejiang Wanliyang to acquire Wuhu Chery Transmission for CNY 2.6 billion  [ China ]

Zhejiang Wanliyang Co., Ltd. announced that it will acquire 100% of Wuhu Chery Transmission Co, Ltd. shares from Chery for CNY 2.6 billion. Of this fund, the company will raise up to CNY 1.51 billion by issuing third-party shares. The acquisition will allow Zhejiang Wanliyang to utilize Wuhu Chery Transmission's continuously variable transmission (CVT) technology and to enter Chery's supplier n...