China's Xiali says parent sets stake sale price

Newswire

SHANGHAI, Aug 29 (Reuters) - Tianjin Automotive Xiali Co said on Thursday its parent would sell its majority stake in the listed company to China's largest car maker, First Automotive Works (FAW), for 1.42 billion yuan ($171.6 million). The parent, Tianjin Automotive Industry Corp, signed an agreement with FAW on Monday to sell a 50.98 percent stake in Tianjin Xiali, the listed company said in a statement published in the official Securities Times. The 739.29 million state-owned ...

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