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Foton Motor to sell 67% stake in Borgward Auto

On October 8 Beiqi Foton Motor Co., Ltd. (Foton Motor) announced that it will sell a 67% stake in Beijing Borgward Automobile Co., Ltd. (Borgward Auto), Foton Motor’s subsidiary.
As of August 31, 2018, Borgward Auto has a total debt of CNY 6.667 billion. Through this equity sale, Foton Motor aims to focus on its comm....

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