Shenzhen Capital Group-backed automobile alternator manufacturer Zhejiang Dehong Automotive Electronic & Electrical Co., Ltd has agreed to sell a 29.99 per cent stake to state-owned Asset Management Service Center of The Government of Ningbo Zhenhai for 1.087 billion yuan ($154 million), per a filing with the Shanghai Stock Exchange.
With the deal, Zhenhai Investment will become the largest shareholder in Dehong. State-owned Asset Management Service Center of The Government of Ningbo Zhenhai, the parent company of Zhenhai Investment, will serve as an actual controller.
