SAIC's Unit MG Motor India Plans To Introduce JSW Ventures Singapore, Others Investors

Reuters04-07

SAIC Motor Corp Ltd <600104.SS>:Says Unit Mg Motor India Plans To Introduce Investors Jsw Ventures Singapore And Others Through Equity Transfer, Expanding Share Capital.Says Jsw Ventures Singapore Will Buy An Aggregate 35% Stake Of Mg Motor India For 3.04 Billion Yuan ($420.30 Million).Says Indoedge India Fund Will Buy 8% Of Mg Motor India For 696 Million Yuan ($96.23 Million), A Dealer Trust Will Buy 3% Stake For 261 Million Yuan ($36.08 Million).Says 5% Stake Of Mg Motor India, Worth 435 Million Yuan ($60.14 Million), Will Earmark For An Employee Stock Ownership Plan.

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