Dah Chong Hong Holdings Ltd. (1828.HK) has agreed to pay 920.8 million yuan ($136.0 million) to buy companies that sell Mercedes-Benz and Audi cars in China, as it seeks to boost its car-dealership network in the country.
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The Hong Kong-listed trading and distribution firm said Friday that it will pay CNY807.68 million for companies that operate two Mercedes-Benz dealerships in Zhejiang's cities of Cixi and Ninghai and rights to open three more new Mercedes-Benz dealerships in the cities of Yuyao, Fenghua and Cixi in the province.
It said it also plans to pay CNY113.12 million for an Audi car dealer in Cixi city.
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(END) Dow Jones Newswires
July 21, 2017 00:52 ET (04:52 GMT)