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BMW’s Chinese Partner Cancels Hong Kong Share Pledge Amid Debt-Dodging Complaints

2020年12月30日 20:46 来源于 财新网
Brilliance Auto pulls the plug after defaulting on debts totaling $1 billion as investors decry offloading of assets
Brilliance Auto, the parent of BMW’s main Chinese joint-venture partner, has cancelled a plan to pledge shares in a Hong Kong-listed subsidiary to secure a loan. Photo: IC Photo

The parent of BMW AG’s main Chinese joint-venture partner has canceled a plan to pledge shares in a Hong Kong-listed subsidiary for loans amid accusations that the state-owned automaker was deliberately failing to pay its debts.

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