General Motors Corp. and Shanghai Automotive Industry Corp. team up to bail out GM’s troubled Jinbei venture in Shenyang, China. The deal will create a fourth car-production base for the GM-SAIC team. GM, SAIC and their existing joint venture, Shanghai-General Motors Automotive Co. Ltd., together will purchase the 50% stake held by four other Chinese entities at Jinbei-GM. A 25% stake of Jinbei-GM, which is 50%-owned by GM, would be transferred to SAIC. Then the four Chinese companies ...
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