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China Daily | Updated: 2011-09-05 07:52
Luxury dealer acquires peer
Luxury car dealership China Zhengtong Auto Services Holding Ltd last week announced that it will acquire the country's ninth-biggest auto dealer group SCAS Investment Co Ltd for 5.5 billion yuan in an effort to expand its premium network.
Established in 1999, Shanghai-based Zhengtong sells premium brands BMW, Audi and Porsche as well as Nissan, Buick, Hyundai, Honda and Chevrolet. The company was listed in Hong Kong last December. Its outlets cover 14 cities in China.
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