18 On the evening of February, FAW Car Co., Ltd. announced that the issue of placing 100% equity in faw liberation at a price of 27 billion yuan was unconditionally approved by the CSRC. At this point, the supervision process of major asset restructuring of FAW Car has finally come to an end.
The competition between FAW Car and FAW Li Xia was thus resolved.
FAW Car announced that on February 18, 2020, M&A of China Securities Regulatory Commission held the fourth working meeting between M&A and the reorganization committee in 2020, and reviewed the major asset reorganization matters of FAW Car Co., Ltd., such as major asset replacement, issuing shares, paying cash to purchase assets and related transactions. According to the audit results of the meeting, the company's major asset restructuring was unconditionally passed.
From April 2065438 to April 2009, FAW Car's major asset restructuring started, and the company issued a statement saying that it promised to divest its assets and liabilities including passenger car business through this restructuring, effectively solving the long-standing problem of horizontal competition between the company and the controlling shareholder.
There is horizontal competition between FAW Car and FAW Li Xia. Before the assets reorganization of the two companies, the controlling shareholders of the above two companies were all China First Automobile Co., Ltd., and their main businesses were passenger cars.
According to the data, the invested assets are faw liberation 100% equity, and the transaction price is 27 billion yuan. However, the transaction price of the placed assets is 5.08 billion yuan, and the difference is 265.438+0.9 billion yuan.
During the delivery of this transaction, FAW Car intends to set up a wholly-owned subsidiary, FAW Car Co., Ltd., and after the assets are transferred to the company, it will transfer 0/00% equity of the company to FAW.
At the same time, the company purchases the difference between the assets put in and the assets transferred out by FAW by issuing shares and convertible bonds and paying cash. After this transaction, the main business of listed companies will be changed to research and development, manufacturing and sales of commercial vehicles.
Before the reorganization of assets, the main business of FAW Car was the passenger car business such as FAW Mazda and FAW Pentium, and then it was changed to the research, development, manufacturing and sales of commercial vehicles.
Zhang Zhiliang, an auto industry observer, told Caijing. With the settlement of the competition between FAW Li Xia and FAW Car, the overall listing of FAW Group will go further. However, it is worth noting that after FAW took over FAW Pentium, there was still horizontal competition between FAW Li Xia and its controlling shareholder FAW. FAW also includes assets such as FAW-Volkswagen and FAW Audi. The overall listing of FAW Group needs to be followed up.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.