PSA: takes stake in Chinese spare parts distributor
(CercleFinance.com) - On Wednesday the PSA group announced that it has taken a stake in UAP Auto Union, a Chinese automotive spare parts distributor, which represents a first step towards potentially taking a larger stake in the company's capital.
"Created 27 years ago, UAP is the leading spare parts distributor in the Shandong region, with an optimised geographical coverage of more than 100 hubs, and is expanding its delivery service to surrounding provinces with 50 hubs," details the PSA group.
After Jian Xin (JX) earlier this year, this stake means that PSA will be "taking a stronger position in Chinese market".
Copyright (c) 2018 CercleFinance.com. All rights reserved.
"Created 27 years ago, UAP is the leading spare parts distributor in the Shandong region, with an optimised geographical coverage of more than 100 hubs, and is expanding its delivery service to surrounding provinces with 50 hubs," details the PSA group.
After Jian Xin (JX) earlier this year, this stake means that PSA will be "taking a stronger position in Chinese market".
Copyright (c) 2018 CercleFinance.com. All rights reserved.