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State Administration for Market Regulation Announces FAW Group's Equity Acquisition of ZHUYU Technology
2 day ago /
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Author：小编
According to an official announcement from the State Administration for Market Regulation, China FAW Group Co., Ltd. has entered into an agreement with New Territory and Shenzhen ZHUYU Technology Co., Ltd. The deal involves a capital increase and the acquisition of equity in ZHUYU Technology currently held by New Territory. ZHUYU Technology specializes in Advanced Driver Assistance Systems (ADAS) technology. Before this transaction, New Territory was the sole controller of ZHUYU Technology, owning a 70.65% equity stake. Following the transaction, FAW Group will secure a 35.80% stake, whereas New Territory's holding will reduce to 34.85%. Consequently, both entities will assume joint control over ZHUYU Technology.
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