Shanghai Auto buys stakes SHANGHAI — Shanghai Automotive Co. Ltd. is purchasing stakes in three joint-venture automotive suppliers from its parent company, Shanghai Automotive Industry Corp. (SAIC). The deals include 50% of Sino-Japanese Shanghai Koito Automotive Lamp Co. for RMB137.5 million (US$16.6 million), 49% of Sino-German ZF Shanghai Steering Co. for RMB232.9 million (US$28.1 million), and 50% of Sino-U.S Shanghai Automotive Brake System for RMB$148.7 million (US$18 million). ...
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