Beijing Auto in talks to buy Lifan: report
Published: 04 May 2009 22:41:49 PSTShanghai, May 5 (Gasgoo.com) Chinese automaker Beijing Automotive Industry Co is in talks to acquire Chongqing Lifan Automobile Co, Lifan Group's auto making subsidiary, the Economic Observer reported Tuesday, citing people familiar with the deal.
Commenting on the talks, Yin Mingshan, president of Chongqing Lifan Holdings, said that "Lifan welcomes partnership negotiations with any auto groups provided that the partnership allows Lifan to retain its own brand and voting rights on the board."
Mr. Yin did not specify the details of any potential deal but said Lifan is always open to acquisitions and mergers.
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