[ET Net News Agency, 8 January 2018] Grand Baoxin Auto (01293) said it agreed to
acquire the entire equity interest in Shanghai Xinjie Automotive Sales Services Limited at
Rmb85 million.
The target is a company incorporated under the laws of the PRC with limited liability
and is principally engaged in the management and operation of 4S dealership stores of auto
brand of Jaguar Land Rover.
The vendor is Xinjiang Longze Automobile Services Management Co., Ltd., which is
indirectly wholly-owned by China Grand Automotive Services, Co., Ltd, which in turn holds
China Grand Automotive Services (Hong Kong) Limited, the controlling shareholder of Grand
Baoxin Auto. (HL)