Huayu Automotive to buy ZF's 50% stake in Shanghai Sachs Powertrain joint venture

Huayu Automotive Systems signed an agreement to acquire ZF Friedrichshafen's 50% stake in Shanghai Sachs Powertrain Component Systems for CNY 65 million (USD 9.5 million), making the joint venture a wholly owned subsidiary.

“The deal will support and promote the development of Sachs' transmission system module business.”yicaiglobal.com

• 3 sources
• yicaiglobal.comChina's Huayu Automotive to Buy German Partner's Half of Joint VentureDou ShicongDec 20, 2018
• m.bjnews.com.cn华域汽车拟8071万元出售上海天合50%股权新京报 记者 蔡妍霏 编辑 张冰 李禾炜Dec 21, 2018
• autonews.gasgoo.comSAIC-owned HUAYU Automotive sells out JV stake to focus on self-development | GasgooMollyDec 25, 2018

Summarized from public sources; check the original articles before acting on it.