UCAR to Sell All Its Shareholdings of CAR to BAIC
Chinese car rental giant CAR's subsidiary, UCAR, announced that in order to optimize the company's debt structure, it intends to sell 442.65 million shares with HKD 3.1 per share to BAIC. After the deal, UCAR no longer holds any share of CAR.
Earlier today, SAIC just announced to forgo the acquisition of the company.
This text is a result of machine translation.
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