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International Automotive Components (IAC) and Shanghai Shenda Co. Ltd. have signed a definitive agreement to form a global joint venture. A UK affiliate of Shenda will acquire a 70% stake in the UK-based JV at an enterprise value of USD 570 million; IAC will retain 30%.
“A UK affiliate of Shenda will acquire a 70% stake in the UK-based JV based at an enterprise value of USD $570 million.”motownindia.com
Summarized from public sources; check the original articles before acting on it.