Baoxin Auto Group Limited (01293.HK) acquiring the entire stake in NCGA Holdings Limited in consideration of the sum of USD 305,357,701 passed the antitrust review of Ministry of Commerce of the People's Republic of China at the end of December, 2012.
Baoxin Auto is a leading automobile dealership group in China which operates 4S dealership stores covering world-renowned brands. It has been regarded as one of the most influential and powerful automobile dealership groups in China. This acquisition will strengthen Baoxin Auto's competitive position by increasing its geographical footprint from Eastern China to Northeast and Northwest and make Baoxin Auto be one of the largest dealership of BMW in China.
Jingtian & Gongcheng acted as the acquirer's lawyer.
