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China

Dongan Auto reaches strategic cooperation agreement with Foton Motor to acquire 60% stake in its subsidiary

Mar 10, 2023

Harbin Dongan Auto Engine Co., Ltd. (Dongan Auto) announced that it has signed a strategic cooperation agreement with Beiqi Foton Motor Co., Ltd. (Foton Motor). Dongan Auto intends to acquire a 60% stake in Beijing Zhiyue Engine Co., Ltd. (Beijing Zhiyue), a Foton Motor subsidiary, after which Beijing Zhiyue will bec....

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