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Provided by Dow Jones By Clarence Leong Zhongsheng Group Holdings Ltd. s shares traded higher after the car dealer announced plans to acquire a Mercedes-Benz distributor in China in a cash-and-share deal worth US$1.3 billion. Zhongsheng s Hong Kong-listed stock rose 8.9% to HK$70.35 by midday Friday, on track to close at an all-time high, and taking year-to-date gains to 27%. Dalian-based Zhongsheng said late Thursday it had entered into a deal to acquire Zung Fu China, a major dealer of Mercedes-Benz in southern and western China, from a unit of conglomerate Jardine Matheson Holdings Ltd. Zhongsheng plans to fund the cash payment portion of the deal via internal resources and bank financing. It will also grant shares to a unit of Jardine Matheson, the company s second-largest shareholder.

Clarence leongBocom international onDow jones company incJardine mathesonZhongsheng group holdings ltdJardine matheson holdings ltdGroup holdingsHong kong listedZung fu chinaJardine matheson holdingsDow jonesதெளிவு லியோங்டோ ஜோன்ஸ் நிறுவனம் இன்க்ஜார்டின் ம்யாதெஸந்ஜார்டின் ம்யாதெஸந் ஹோல்டிங்ஸ் லிமிடெட்குழு ஹோல்டிங்ஸ்