Guangzhou Automobile Group Co (HK:2238) has released an update.
Guangzhou Automobile Group Co. has entered into a Capital Increase Agreement with Crédit Agricole, resulting in a significant shift in the equity structure of its subsidiary, GAC Leasing. The move involves doubling GAC Leasing’s registered capital to RMB3.4 billion, with Crédit Agricole subscribing to half of the increased shares, reducing the Group’s stake to 50%. This transaction highlights the company’s strategic shift towards joint control and potential new growth avenues.
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