TOKYO — For insights into the peculiarities of mergers and acquisitions (M&A) Chinese-style, take a close look at how the First Auto Works (FAW) group of companies was assembled. A recent case study of the FAW Group, the largest in China's automotive industry, is revealing. Particularly since FAW is partnered with such foreign heavyweights as Volkswagen AG (Jettas, Passats and Audis) and General Motors Corp. (joint venture with FAW-owned Jinbei Automobile Co. Ltd. to make Chevy Blazers ...

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