Volkswagen to Take 20% Stake in Chinese Battery Maker Guoxuan, Reuters Reports
January 17 2020 - 1:10AM
Dow Jones News
--Volkswagen plans to acquire a 20% stake in Chinese battery
maker Guoxuan High-Tech Co. Ltd. via a discounted private share
placement in the coming weeks, Reuters reports, citing two unnamed
sources with knowledge of the matter.
--The purchase of the stake, worth about $560 million based on
Guoxuan's current market capitalization, would make Volkswagen the
company's second-largest shareholder.
--The deal has largely been finalized but the two companies are
awaiting new rules in China on private share placements, Reuters
reports.
Full story: https://reut.rs/30t1rMh
Write to Singapore editors at singaporeeditors@dowjones.com
(END) Dow Jones Newswires
January 17, 2020 00:55 ET (05:55 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Volkswagen (TG:VOW3)
Historical Stock Chart
From Mar 2024 to Apr 2024
Volkswagen (TG:VOW3)
Historical Stock Chart
From Apr 2023 to Apr 2024