Liaoning Shuguang has transferred 21.27% stake in Huanghai Auto to Hawtai Motor at a hefty premium. According to reports, this also confers upon Hawtai a controlling interest in Huanghai Auto.
However, another business entity, Qiligang Group, is contesting this transfer claiming that it had first rights to the share transfer since a deal had already been worked out between itself and the Shuguang group. This matter is now in the courts.
Ministry of Commerce okays Hawtai's acquisition of Huanghai. According to the authorities, there is no need for any further review of the transaction, essentially removing any further impediment to the coming together of the two companies.
Azar Motor Industrial Company (AMICO), a CV and heavy equipment manufacturer of Iran, has tied up with Huanghai to introduce N2 pickups in Iran. Single- and double-cabin pickups in 4x2 and 4x4 versions will be produced by AMICO's main subsidiary company, Aras Khodro Diesel. Trial production may already have begun.