BEIJING, Aug 18 (Reuters) - Beijing Automotive Industry Holding Co (BAIC) said on Wednesday it had agreed to take over smaller rival Guangzhou Baolong.
BAIC will also invest 5 billion yuan (about $736 million) to expand Guangzhou Baolong's existing plant in southern China and to add a new plant, the company said in a statement. ($1=6.792 YUAN) (Reporting by Fang Yan, Michael Wei and Ken Wills)