Ford Inside News banner

1 - 1 of 1 Posts

·
The Spaminator
Joined
·
5,791 Posts
Discussion Starter #1
Yahoo

BEIJING (Reuters) - Ford Motor Co (F.N) has raised its stake in Jiangling Motors Corp Ltd to 31.5 percent and is looking to increase it to as much as 32 percent over the next year, both companies said on Wednesday.

Ford has bought 13,002,396 of Jiangling's Hong Kong dollar-denominated B-shares so far this year, accounting for roughly 1.5 percent of the Chinese automaker's outstanding shares, Jiangling said in a stock exchange filing, adding it was a sign of confidence in it by the U.S. carmaker.

Ford said it may raise its stake to 32 percent, the limit currently allowed by the securities regulator. After the latest purchase Ford's stake is worth about $705 million.
 
1 - 1 of 1 Posts
Top