Bohai Automotive Systems (SHA:600960) plans to acquire stakes in a number of auto part manufacturing units from its controlling shareholder, Beijing Hainachuan Automotive Parts, through cash and share issuances, according to a Shanghai bourse disclosure on Tuesday.
The transaction price is yet to be determined.
The company, an automotive-parts manufacturer within BAIC Motor Group (HKG:1958), will buy 51% each in Beijing Beiqi Mould & Plastic Technology and Hainachuan Adient (Langfang) Seating, 50% of Leoni Wiring Systems (Langfang), and 100% of Inteva Zhilian Technology (Beijing).
The company's shares jumped 10% in recent trade.
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