General Motors Aims to Raise Stake in China Venture (Update1)
By Tian Ying and Winnie Zhu
Nov. 9 (Bloomberg) -- General Motors Corp., the biggest overseas automaker in China, is in talks with a local partner to increase its stake in a venture that produces vans and light trucks under the Wuling brand.
The U.S. automaker is seeking to buy additional shares in SAIC-GM-Wuling Automobile Co., Hu Maoyuan, chairman of SAIC Motor Corp., said yesterday in an interview in Tianjin. SAIC is the majority shareholder of the venture with 50.1 percent, GM owns 34 percent and Liuzhou Wuling Motors Co. holds the rest.
http://www.bloomberg.com/apps/news?pid=20601080&sid=aJB4pTi0X5lo&refer=asia
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