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Chinese Owner SAIC To Slowly Reduce Stake To Below 40%

Chinese Owner SAIC To Slowly Reduce Stake To Below 40%

BusinessToday.In
BusinessToday.In
  • New Delhi ,
  • Oct 5, 2023,
  • Updated Oct 5, 2023, 3:30 PM IST

With Indian authorities tightening the screws on Chinese-owned businesses in the country, auto major SAIC has decided to offload part of its stake in MG Motors India to a Sajjan Jindal-owned company. After months of negotiations, reports say a deal is around the corner, and could be announced in the next few weeks. The deal, reportedly, also involves MG Motors India going public – a move which could see the Sajjan Jindal-owned company becoming a majority shareholder.

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