Date
11 December 2017

BAIC eyes foreign acquisition targets, WSJ says

Beijing Automotive Industry Holdings Co. (BAIC), China’s fifth largest carmaker by sales, is in the market for premium car brands, the Wall Street Journal reported Thursday. The company is focusing its search on the United States and Europe, Dong Haiyang, president of BAIC’s international business, was quoted as saying. It has held talks with two potential targets, the report said. BAIC is gearing up for an initial public offering in Hong Kong which could raise US$2 billion, other media reports said. The company is a joint-venture partner of Daimler and Hyundai Motor Co. in China

– Contact HKEJ at [email protected]

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