Beijing Automotive Industry Corp is ready to announce a merger with Fujian Motor Industry Group according to a report in the South China Morning Post.
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The newspaper reports that the two parties are finalising the shareholding structure of the proposed new company and a formal statement on the deal is expected to be released by the end of this month.
The newspaper report cited unnamed sources and other reports have suggested that the report is based on speculation.
If a merger happened, it would propel the new merged entity to become China’s fourth largest automotive firm.
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