Ford raises stake in China’s Jiangling Motors

Ford Motor has raised its stake in Jiangling Motors to 31.5 per cent and is looking to increase it to as much as 32 per cent over the next year, both companies said on Wednesday.

Ford has bought 13,002,396 of Jiangling’s Hong Kong dollar-denominated B-shares so far this year, accounting for roughly 1.5 per cent of the Chinese automaker’s outstanding shares, Jiangling said in a stock exchange filing, adding it was a sign of confidence in it by the US carmaker.

via Business feed http://www.scmp.com/business/companies/article/1216640/ford-raises-stake-chinas-jiangling-motors