Dongfeng : Controversy Exists in the Reorganization of Fujian Motor
www.chinatrucks.com. The signing of the contract between Dongfeng and Fujian Motor is waiting for new government leader taking office. It is understood that the signing is a frame agreement and only issue of stake shares will be involved.
The difficulty for the merger has been focused on the complexity of stock rights among the numerous brands under Fujian Motor.
It is learned that according to the plan of Dongfeng, the company demanded a 50% of stock rights of Fujian Motor while Fujian government only agreed a 40% stock rights.
The reorganization plan will be conducted by two steps. Dongfeng will purchase 40% of stock rights in the first step, which will be followed by another 20% growth when the annual sales reach 300,000.
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