state owned automakers

GAC to acquire FAW's stake in auto joint venture via share deal, making FAW second-largest shareholder

GAC Group plans to issue shares to buy part of China FAW's stake in an unnamed vehicle-manufacturing joint venture, with FAW expected to become GAC's second-largest shareholder. The restructuring, which may involve FAW Toyota, keeps GAC's ultimate control unchanged and its A-shares suspended for up to 10 trading days.