28-03-2007

China Weichai Power Co Ltd said it will buy the remaining 72 percent stake in its affiliated parts maker, China's largest producer of large commercial trucks, to assume its listing status on the Shenzhen Stock Exchange.

Weichai will pay 3.89 billion yuan in stock to buy 673 million shares in Torch Automobile Group Co, issuing 190 million shares at 20.47 yuan each, according to a statement yesterday on the website of the China Securities Regulatory Commission. Torch Auto will cease to exist after the takeover.

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