SAIC to put $1.3 bln autoparts assets into Bashi


SHANGHAI, June 23 (Reuters) - SAIC group, China's biggest auto conglomerate, is to inject 8.8 billion yuan ($1.28 billion) of auto parts assets into Shanghai Bashi Industrial (Group) Co , becoming its parent under a previously announced asset-for-equity deal. Meanwhile, Bashi, a struggling bus service provider in Shanghai, will shed about 2.2 billion yuan of public transport assets, Bashi said in a stock exchange statement on Monday. The planned injection of SAIC's auto parts assets, a ...

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