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·Dongfeng sold Honda China's entire shareholding Guangqi Honda took over
On January 2nd, Shanghai United Assets and Exchanges issued the property rights project confidence of “10% equity of Honda Automobile (China) Co., Ltd.†on its official website. According to the announcement, Dongfeng Motor Group Co., Ltd. will be listed for sale of 10% equity of Honda Automobile (China) Co., Ltd. from now until January 29, 2018, with a listing price of 94.8007 million yuan.
According to the target company's shareholding structure announced by the Shanghai United Assets and Equity Exchange, 10% is the entire share of Honda Motor (China) Co., Ltd. held by Dongfeng Motor Group Co., Ltd., and the one-month listing sale means Dongfeng Motor. It will completely disappear from the list of shareholders of Honda Motor (China) Co., Ltd.
The sale of Honda’s Chinese equity is another major move by Dongfeng Group to divest assets in the near future. According to the listing project information, the target corporate shareholders Honda Technology Industrial Co., Ltd., Honda Technology Industrial (China) Investment Co., Ltd., and Guangzhou Automobile Group Co., Ltd. all intend to transfer the entire equity held by them. As early as December 16, 2017, Guangzhou Automobile Group issued a notice saying that the 25% equity of Honda Automobile (China) Co., Ltd. held by the company was transferred to the public market through external market, and the listed transfer price was about 232 million yuan. However, as of the listing date, the above equity transfer has not yet entered the substantive stage.
After the completion of the transaction, the future equity of Honda Motor (China) Co., Ltd. will be divided into four and divided into three, of which Honda Technology Industrial Co., Ltd. holds 55% of the shares, and Honda Technology Industrial (China) has limited investment. The company's shareholding ratio is 10%, while the shareholding ratio of Guangzhou Automobile Group Co., Ltd. will increase from 25% to 35%, and the identity of the second largest shareholder will remain unchanged.
It is understood that the main purpose of GAC Honda's acquisition is to expand production capacity. At present, Guangqi Honda has three production lines with an annual production capacity of 720,000 units. Guangqi Honda needs to expand its channels to increase production capacity to meet the market. If the above equity transfer is successfully completed, the ownership structure of Honda China will be completely changed. Guangqi Honda is one step closer to the wholly-owned Honda China.