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Grammer in Possible Equity Talks with China’s Ningbo Jifeng
Grammer AG, the German-based supplier of vehicle interiors and seating systems, confirms reports that it is in advanced discussions to form a strategic partnership with China’s Ningbo Jifeng Auto Parts Co.
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Grammer AG, the German-based supplier of vehicle interiors and seating systems, confirms reports that it is in advanced discussions to form a strategic partnership with China’s Ningbo Jifeng Auto Parts Co.
Grammer adds that a deal could lead to an equity investment by the Chinese company. Reuters says Ningbo Jifeng may spend as much as €60 million ($64 million) to acquire 10% stake.
The news agency points out that a shareholding could help Grammer’s management team deflect a demand by its 20% owner, Bosnia’s Hastor family, to replace nearly half its supervisory board.
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