Shanghai(ZXZC)-Foton Motor released the announcement on 30th October to clarify that Evergrande Group hasn't come into contact with Foton for acquiring the company's stake in Borgward.
On October 30, several media reported that Evergrande Group is interested in the 67% stake of Foton in Borgward. After verification, the report is not true, and so far, Evergrande hasn't got in touch with Foton in terms of transferring the stock rights of Borgword, said Foton. Investors should pay attention to avoid the risk, added the company.
In addition, Foton published the plan on October 9 to transfer the 67% stakes in Beijing Borgward Automobile Co., Ltd. After the stock rights transferring was made in public on October 18, a number of investors have come into contact with Foton for asking about stock rights transferring.
To date, no substantive progress has been made.