tiprankstipranks
Yongda Automobiles Expands Stake in Finance Arm
Company Announcements

Yongda Automobiles Expands Stake in Finance Arm

China Yongda Automobiles Services (HK:3669) has released an update.

Don't Miss our Black Friday Offers:

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.

For further insights into HK:3669 stock, check out TipRanks’ Stock Analysis page.

Related Articles
TipRanks HongKong Auto-Generated NewsdeskChina Yongda Reports Decline in H1 2024 Earnings
TipRanks HongKong Auto-Generated NewsdeskChina Yongda Announces Mid-Year Dividend Payout
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App