Wednesday, May 23, 2007
MG-saviour receives extended bank loan
STATE-RUN China Exim Bank, has extended a $260m loan to MG-saviour, Nanjing Auto.
Nanjing will use the funds to shore-up foreign investment, import key technology and export its cars.
Recent press reports in China have speculated that Shanghai Automotive Industries Group - which bought the rights to MG Rover Group's 75 and Rover 25 in 2005 - could possibly buy-out Nanjing.
DATED: 2305.07
FEED: AW
Nanjing will use the funds to shore-up foreign investment, import key technology and export its cars.
Recent press reports in China have speculated that Shanghai Automotive Industries Group - which bought the rights to MG Rover Group's 75 and Rover 25 in 2005 - could possibly buy-out Nanjing.
DATED: 2305.07
FEED: AW
