Date
20 October 2017

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.

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