A few days ago, GAC Group issued an announcement that in response to the announcement by Stellantis Group that its shareholding ratio in the joint venture GAC Fiat Chrysler Automobile Co., Ltd. has increased to 75%, the two parties have not yet signed a formal agreement on the equity adjustment of GAC FCA.
Previously, Stellantis Group announced plans to increase its shareholding in GAC FCA, a joint venture with GAC Group, from 50% to 75%. Moreover, it said that GAC Group has agreed to cooperate in completing the relevant procedures of the transaction, and the follow-up is subject to the approval of the relevant departments.
In the announcement of GAC Group, GAC Group said that at present, the two sides have not signed a formal agreement on the equity adjustment of GAC FCA. Regarding foreign joint venture cooperation, the company will strictly abide by the national policies and regulations to perform the corresponding procedures, adhering to the principle of mutual trust and win-win. The company will strictly comply with the requirements of laws and regulations and fulfill the information disclosure obligation in a timely manner according to the corresponding progress.