Shanghai Auto shares GM without suspense or acquisition of 1% stake

Last week, Chen Hong, the chief executive of Shanghai Auto (600104), had gone to the United States to enter into the final round of talks with GM on shares and price arrangements for a stake in GM.　　With Shanghai Auto and General Motors have been unable to split the global Strategic partnership and Shanghai Auto Cash reserves, overseas business development Strategy deployment, Shanghai Auto stake in the United States General Motors is not suspense. A source said the talks involved Shanghai car may invest about 500 million U.S. dollars, the acquisition of General Motors about 1% stake.　　According to the U.S. General Motors listing plan, November 17 announced the price per share, 18th officially in New York and Toronto, the listing of transactions, the final financing scale is expected to reach 13 billion U.S. dollars. SAIC has been in partnership with GM for 10 years, and is now tied together in global business expansion. GM was able to make a profit this year, in addition to improving North America's performance, mainly because of strong growth in the Chinese market.