Original title: SAIC Group announced that some of the equity of Indian companies: MG India has received strategic investmentGuoabong Investment
Source: Global NetworkJaipur Investment
[Global Network Finance Comprehensive Report] On April 7, SAIC Group announced that its global strategy has taken an important step.Following the previous strategic cooperation agreement with the Indian Iron and Steel Industry Giant JSW Group, SAIC Group has successfully introduced Indian investors such as JSW to inject new vitality into the sustainable development of its MG India.
In order to seize the rapid growth of the Indian market and continue to increase the market share of the MG brand, SAIC Group decided to introduce Indian local strategic investors such as JSW Group through equity transfer and capital increase and expansion.This measure aims to create more favorable conditions for the sustainable and healthy development of MG India.
It is reported that SAIC Group wholly established MG India in 2017 with a real -time capital of 29.2 billion Indian rupees.Recently, SAIC Group has received a 26.5 billion rupee equity transfer payment paid by JSW Group, which marks that SAIC has recovered most of the initial investment in MG India.In addition, JSW Group, investment funds, dealer trusts, and employee holding plans will also injected 25.6 billion rupees for MG Indian companies.Udabur Investment
After the equity transfer and capital increase and shareholding, SAIC Group will still retain 49%of the equity and higher proportion of voting rights of MG India.It is predicted that this transaction will bring SAIC Group’s net profit growth of 50 to 7 billion yuan.
It is worth mentioning that, under the premise of maintaining technology and brands, SAIC Group supports MG India companies to further expand its scale and enhance its strength by introducing advantageous resources and exerting synergistic effects.The transaction has been evaluated by third -party independent authoritative agencies, and it does not constitute related transactions, and has been approved by relevant domestic regulatory agencies.Surat Wealth Management
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