GM venture to pay $17 mln for China car plant stake

Newswire

SHANGHAI, Feb 27 (Reuters) - General Motors Corp's main Chinese venture will pay 143 million yuan ($17.28 million) in kind for a 25 percent stake in a troubled auto plant in China's northeast, an existing shareholder said on Friday. Jinbei Automotive Co Ltd , controlled by Brilliance China Automotive Holdings Ltd , will receive the money as "compensation for loans provided to Jinbei GM," Jinbei Automotive said in a statement published in the Shanghai Securities News. The actual 25 ...

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