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Guangzhou Automobile Honda Acquires Honda China: What Does Dongfeng Honda See?

2019-03-18

Recently, Guangzhou Automobile Group officially announced that its subsidiary Guangqi Honda officially bought Honda China.

According to an official announcement, the board of directors of Guangzhou Auto Group Co., Ltd. agreed to transfer 25% of Honda Automobile (China) Co., Ltd.'s stock held by the company through the open market. The base price for the listing and transfer was approximately RMB 231.593 million.

At the same time, the Board of Directors agreed to approve the approval of the relevant departments and approved the joint venture company Guangqi Honda Motor Co., Ltd. to acquire 100% equity of Honda Automobile (China) Co., Ltd. through open market transfer and agreement and to upgrade and upgrade.

So far, the ownership structure of Honda Automobile (China) Co., Ltd. has been held by Honda Technology Co., Ltd., Guangzhou Automobile Group Co., Ltd., Dongfeng Motor Group Co., Ltd., and Honda Technology Investment (China) Investment Co., Ltd., respectively, 55% and 25%. 10%, 10%, changed to Guangzhou Automobile Honda Automobile Co., Ltd. owns 100% equity.

In addition, official sources indicated that sales of GAC Honda Motor Co., Ltd. had reached 663,553 units in 2017, and 95.7% of the target of 690,000 units was completed in the year.

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