China group closes deal for auto supplier Nexteer

Newswire

* Beijing city investment arm closes deal for GM unit * Largest Chinese investment in U.S. auto supply industry * Nexteer to target growth in China's auto market - CEO DETROIT, Nov 29 (Reuters) - A Chinese investment group backed by Beijing's municipal government completed a deal on Monday to acquire Michigan-based auto steering supplier Nexteer Automotive from General Motors Co . Nexteer Chief Executive Bob Remenar said the deal represented the largest Chinese investment in the U.S. ...

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