China Investment Corp Buys General Motors (Maybe)
Filed in archive Private Equity on November 30, 2008
All the way back in July, Richard Brubaker over at All Roads Lead to China suggested that General Motors could become a chinese-owned company....with firms like Anhui Cherry already showing at the Detroit Auto Show, and China's obvious desire to be a global player in the auto market, I am beginning to wonder if we are about to see a big 3 auto maker be purchased in whole/ part by a Chinese firm looking to expand...
Okay, it's not likely to be China's sovereign wealth fund, the CIC, that steps in to buy GM. Chances are, no one would buy GM. But a division of GM? Maybe...
The Truth About Cars reported last month that Chinese carmakers SAIC and Dongfeng have plans to acquire GM and Chrysler. Brubaker speculates that the more likely path is for a Chinese company to acquire a division of GM. And he goes on to say that the only real questions is "or not this would be a pill American's would swallow." I'm betting GM is trying to get Chinese companies to act interested already - in the hopes that Congress would cough up bailout money just to keep GM a wholly American company.
Buick is the most popular foreign car in China. You knew that, right...?
Photo courtesy of iStockphoto, Geoff Kuchera
Tags: GM CIC china 2008 general general+motors investment+corp china+investment
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Response from:
Alex Simon
(08/31/09 12:12pm)
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by ALEX SIMON__ “and save with my know!”
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