BEIJING :Chinese automaker FAW signed a deal to buy into local driving assistance technology firm Zhuoyu, the country’s market regulator said on Monday in a notice seeking public comment on the investment through October 1.
FAW plans to acquire holdings now held by New Territory Technology Company. After the deal, FAW will take a 35.8 per cent stake in Zhuoyu, while Hong Kong-based New Territory’s stake in Zhuoyu will drop to 34.85 per cent from the current 70.65 per cent.
