China Yongda Automobiles Services (HK:3669) has released an update.
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China Yongda Automobiles Services Holdings Limited has announced the approval of agreements to acquire a total of 14.8094% partnership interests in Binyan Partnership, with each of Shanghai Xingzhong and Shanghai Yunyi parting with 7.4047% for a consideration of RMB 21,167,242.75 each. This transaction, categorized as a connected transaction due to familial relationships within the company’s controlling shareholders, is significant as Binyan Partnership holds a nearly complete stake in Shanghai Zangluo Information Technology, which in turn holds a 47% share of Yongda Finance Leasing.
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