GM to regain control in SAIC joint venture
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China.org.cn, August 8, 2011
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Shanghai Volkswagen and Shanghai GM are the major sources of income for SAIC, accounting for 70-80 percent of its total revenues. |
| GM to regain control in SAIC joint venture |
通用汽车拟提前回购上汽通用1%股权 |
| General Motors Co. plans to buy back the controlling 1 percent stake in Shanghai GM, its joint venture with Chinese partner SAIC, bringing SAIC’s total stake in the venture back to 50 percent, GM’s Chief Executive Daniel Akerson said Thursday. | 8月4日，通用汽车CEO丹尼尔•埃克森（Daniel Akerson）在通用汽车2011年第二季度财务报告会议上表示，预计通用汽车将完成与上汽签订的回购上海通用1%股份的协议，从而将对上海通用的持股比例提至50%。 |
| In 2009, SAIC acquired a controlling 51 percent interest in Shanghai GM by purchasing an additional 1 percent in preparation for the group’s listing. That year, SAIC reported a record 5 billion yuan ($US 778 million) in profit growth for Shanghai GM. | 据上汽2009年12月5日发布的公告，上汽拟通过全资子公司上汽香港公司收购通用汽车持有的上海通用1%股权，为集团整体上市做准备。此前，上海汽车已持有上海通用50%股权。这1%的股权也确实为上汽的财务数据增色不少，仅2010年，上海通用就为上汽增加利润近50亿元。 |
| Under the terms of the original deal, GM could repurchase the stake only if it SAIC is allowed to include Shanghai GM’s revenue on its accounts. | 上汽方面表示，在当初的股份购买协议中双方已约定，通用汽车如果要回购上海通用1%的股权，前提条件是必须满足上汽继续对上海通用实现并表。 |
| SAIC received the green light for its asset-restructuring plan from the China Securities Regulatory Commission, the company announced on August 2. | 8月2日，上海汽车、华域汽车双双发布公告称，中国证监会上市公司并购重组审委会有条件审核通过了上海汽车发行股份购买资产暨关联交易方案。 |
| Shanghai Volkswagen and Shanghai GM are the major sources of income for SAIC, accounting for 70-80 percent of its total revenues. | 目前，上海汽车旗下的两家整车合资企业上海大众和上海通用的收入占上汽整体收入的70%~80%，是上汽的主要利润来源。 |
China's business press carried the story above on Monday.
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