Key Developments: Dongfeng Motor Group Co Ltd (DNFGF.PK)
1.60USD
16 May 2013
$0.05 (+3.23%)
$1.55
$1.60
$1.60
$1.60
2,000
2,289
$1.80
$1.09
Latest Key Developments (Source: Significant Developments)
Dongfeng Motor Group Co Ltd Recommends Dividend
Dongfeng Motor Group Co Ltd announced that the Board of Directors recommends distributing a dividend of RMB0.15 per share for the year ended December 31, 2012 (a dividend of RMB 0.18per share distributed for the year ended December 31, 2011) per share. The proposed final dividend for the year is subject to the approval of the Company’s shareholders at the forthcoming annual general meeting. If such proposed dividend distribution is approved by the shareholders, the final dividend will be distributed to those shareholders whose names appear on the register of members of the Company on July 8, 2013. The Register of Members will be closed from July 2, 2013 to July 8, 2013 (both days inclusive). Full Article
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
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). Full Article
Renault SA, Dongfeng Motor Group Co. Ltd Plans $1.2 Billion Car Making JV In China-DJ
Dow Jones reported that Renault SA is planning to launch a 7.2 billion yuan ($1.2 billion) car-making joint venture (JV) with Dongfeng Motor Group Co. Ltd. The planned JV will have an annual production capacity of 150,000 passenger vehicles, including sports utility vehicles and multi-purpose vehicles, according to a recent statement posted on the website of the Hubei Environmental Protection Bureau. The bureau, which is assessing the facility's environmental impact, said the joint venture will be located in Wuhan, capital of central Hubei province. Full Article
Renault SA Plans Joint Venture in China with Dongfeng Motor Group Co Ltd-Reuters
Reuters reported that Renault SA is planning to launch a joint venture to build cars in China with Dongfeng Motor Group Co Ltd. The two firms plan to invest a combined CNY 6.5 billion (USD 1.0 billion) in a plant in the central province of Hubei with an initial capacity of 200,000 cars a year, according to China Business News. Mr. Chen Guozhang, Chief Executive of Renault Greater China, was quoted by the newspaper as saying the planned joint venture would operate a plant formerly used by Renault when it had a local partner in the mid-1990s. A Dongfeng Motor Group Co Ltd spokesman said he had no information on the joint venture, while a Renault SA spokeswoman in China declined to comment. Full Article
Dongfeng Motor Group Co. Ltd Recommends Dividend
Dongfeng Motor Group Co. Ltd announced that the Board of Directors recommends the dividend distribution of RMB0.18 per share in respect of 2011 results, subject to consideration and approval at the annual general meeting to be held on June 21, 2012. Full Article
China's Dongfeng Motor to buy 40 pct of Fujian Auto -report
BEIJING, May 15 - The parent of Dongfeng Motor Group Co, China's second-largest automaker, will take an over-40 percent stake in Fujian Motor Industry Group, a local newspaper said on Wednesday, the latest consolidation in the country's fragmented auto market.
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