Seres Group to Buy NEV Factory Leasing Firm for 8.16 Billion Yuan; Shares Up 3%

MT Newswires Live10-11

Seres Group (SHA:601127) plans to acquire Longsheng New Energy, a leasing services company for new energy vehicle factories, for 8.16 billion yuan, according to a Thursday disclosure on the Shanghai Stock Exchange.

Longsheng New Energy will be acquired from Chongqing Industry Fund, Liangjiang Investment Group and Liangjiang Industry Group through the issuance of shares, the Chinese automotive manufacturer said.

A consideration worth 3.51 billion yuan will be given to Chongqing Industry Fund, while 2.15 billion yuan and 2.51 billion yuan will be handed over to Liangjiang Investment and Liangjiang Industry, respectively.

Shares of the company rose less than 3% in recent trade.

Price (RMB): Â¥90.10, Change: Â¥+1.3, Percent Change: +1.46%

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