Ford lifts stake in partner
By Richard Fu |
April 18, 2013, Thursday
|
Print Edition
Print Edition
FORD Motor Co has raised its stake in Jiangling Motors Co to 31.5 percent and intends to lift that to 32 percent by early next year in a sign of confidence in the Chinese partner.
Ford has bought over 13 million Hong Kong dollar-denominated B shares since January 21, or about 1.5 percent of outstanding shares, according to a statement by Shenzhen-listed Jiangling yesterday.
Ford, which owned 30 percent of Jiangxi Province-based Jiangling before the purchase, aims to further raise its stake to 32 percent by January 20 next year.
The purchase signaled Ford's confidence in the stable development of Jiangling and the Chinese company's future earnings, Jiangling said.
Jiangling sold 56,420 vehicles in the first quarter, up 7.1 percent from a year earlier.
Ford has bought over 13 million Hong Kong dollar-denominated B shares since January 21, or about 1.5 percent of outstanding shares, according to a statement by Shenzhen-listed Jiangling yesterday.
Ford, which owned 30 percent of Jiangxi Province-based Jiangling before the purchase, aims to further raise its stake to 32 percent by January 20 next year.
The purchase signaled Ford's confidence in the stable development of Jiangling and the Chinese company's future earnings, Jiangling said.
Jiangling sold 56,420 vehicles in the first quarter, up 7.1 percent from a year earlier.
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