China's biggest auto maker Shanghai Automotive Industry Corp. and Magma Holdings Ltd. reportedly have made a joint formal offer to buy bankrupt U.K. MG Rover Group Ltd. and revive production at its Longbridge plant in the British Midlands. SAIC, wholly owned by the government of Shanghai and a partner in separate joint ventures in China with General Motors Corp. and Volkswagen AG, says the bid was for the combined assets of MG Rover and related engine maker Powertrain Ltd. Magma is a ...
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