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Dongfeng Motor Group Co Ltd Enters Into Framework Agreement With Nissan Motor Co., Ltd., Nissan (China) Investment Co., Ltd. And Dongfeng Motor Co. Ltd; Announces Joint Venture With Volvo AB


Sunday, 27 Jan 2013 05:40am EST 

Dongfeng Motor Group Co Ltd announced that the Company has entered into the Framework Agreement on January 26, 2013 with Nissan Motor Co., Ltd., Nissan (China) Investment Co., Ltd. and Dongfeng Motor Co. Ltd., a Jointly-controlled Entity owned as to 50% by the Company. Under the Framework Agreement, the Company and/or its subsidiary, Dongfeng Commercial Vehicles Co., Ltd (Commercial Vehicles Co)/ China Dongfeng Motor Industry Imp. & Exp. Co., Ltd ( Dongfeng Imp.& Exp), have entered into various agreements (the Sub-agreements) with Dongfeng Motor Co.,Ltd., pursuant to which the Company and/or Dongfeng Commercial Vehicles Co.,Ltd (Commercial Vehicles Co)/ China Dongfeng Motor Industry Imp. & Exp. Co., Ltd(Dongfeng Imp.& Exp) will acquire and Dongfeng Motor Co.,Ltd. will sell the Commercial Vehicle And Other Businesses for a total consideration of approx RMB 11,712,837,000 (equivalent to approx HKD14,602,393,888). On January 26, 2013, the Company entered into the Cooperation Master Agreement with Volvo (AB Volvo) for the establishment and operation of the Commercial Vehicles Co, a capital joint venture with Volvo. Pursuant to the Equity Transfer Agreement under the Cooperation Master Agreement,the Company has agreed to dispose and Volvo has agreed to purchase 45% of the Company's equity interest in the Commercial Vehicles Co for a consideration of approximately RMB5,608,000,000 (equivalent to approx HKD6,991,493,600). 

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14.7
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14 Jul 2014