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Changsheng Xingye acquires 67% stake in Beijing Borgward
On December 28, Beiqi Foton Motor Co., Ltd. (Foton Motor) announced that Changsheng Xingye (Xiamen) has spent about CNY 4 billion to acquire a 67% stake in Beijing Borgward Automobile Co., Ltd. (Beijing Borgward), a subsidiary of Foton Motor. Ucar announced that it will guarantee the shareholder’s loan offered by Fot....
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