22 January 2019

Dongfeng unit in arbitration with Brazil firm over JV, WSJ says

China’s Dongfeng Motor Group Co. said Monday that its commercial vehicle unit has been served with a request for arbitration by a Brazilian firm seeking damages for failure to set up a joint venture, the Wall Street Journal reported. The request for arbitration had been filed at the London Court of International Arbitration, Dongfeng was quoted as saying in a regulatory filing, without identifying the Brazilian company. The Brazil firm is said to be seeking damages of around 1.67 billion reais (US$701.7 million) for the alleged breach.

– Contact HKEJ at [email protected]



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