Guangzhou Automobile Group (SHA:601238, HKG:2238), or GAC, said its A-shares will remain suspended from trading as it plans to acquire part of a complete vehicle joint venture held by FAW Group.
The transaction is expected to make FAW Group GAC's second-largest strategic shareholder and constitutes a major asset restructuring and related-party transaction, according to a weekend filing with the Shanghai bourse.
GAC's A-shares have been halted since Sept. 14, initially for no more than 10 trading days.
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