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UPDATE 2-China Grand Automotive buys stake in luxury car dealer Baoxin Auto

2015-12-11 14:55:39| Auto Dealers - Topix.net

Dec 11 Auto dealership China Grand Automotive Services purchased a controlling stake in luxury car dealer Baoxin Auto Group for HK$8.2 billion , Baoxin disclosed to the Hong Kong Stock Exchange on Friday. Baoxin said China Grand paid HK$5.99 per share to buy a 53.6 percent stake with the purchase occurring on Dec. 4. Baoxin shares closed at HK$4.15 last week before trading was halted on Monday.

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