Guangzhou Automobile Group Co (HK:2238) has released an update.
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Guangzhou Automobile Group Co., Ltd. has announced a proposed connected transaction to sell an 18.82% equity interest in an associated company to its controlling shareholder, GAIG, for approximately RMB1,331 million. This potential disposal is significant as it may account for a substantial portion of the company’s net profit. Shareholders will be required to approve the transaction at an extraordinary general meeting scheduled for December 2024.
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