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Mitsubishi, China Motor Bus may join bid for Soueast
China Knowledge, 19 Jan '10
Japan's Mitsubishi and Taiwan's China Motor Bus Co are likely to join the bid to buy Soueast Motor, sources reported on January 18th. Reportedly, Soueast Motor recorded doubled sales and output in 2009, which is said to be the major reason for Mitsubishi and China Motor Bus to bid for the Fujian-based automaker. It is also reported that Mitsubishi and China Motor Bus, which hold 29.5% and 25% stake in Soueast Motor respectively, enjoys pre-emption right to purchase shares in the Chinese company. Currently, Beijing Automobile Industry Co and the Guangzhou Automobile Group are still in talks with Fujian Motor Industry Group (FMIG) about restructuring Soueast Motor. FMIG owns a 50% stake in Soueast Motor.
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