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Zhongsheng Group Holdings Limited (ZSHGY)

Other OTC - Other OTC Delayed Price. Currency in USD
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82.860.00 (0.00%)
At close: 3:59PM EDT
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  • South China Morning Post

    Jardine Matheson to transfer its Chinese Mercedes-Benz showroom business to affiliate Zhongsheng for US$1.3 billion

    Jardine Matheson said it will transfer its Mercedes-Benz business in China to its mainland car showroom affiliate, Zhongsheng Group, in a US$1.3 billion cash and shares deal that would raise its stake in the dealer to 21.25 per cent and make it the second-largest shareholder. The conglomerate, which is the biggest landlord in Central through its subsidiary Hongkong Land, has reached an agreement to transfer the China business, currently operated under its Zung Fu brand, to Zhongsheng Group, Jard

  • Moody's

    Zhongsheng Group Holdings Limited -- Moody's assigns Baa3 to Zhongsheng's senior unsecured notes

    "The proposed issuance will not impact Zhongsheng's Baa3 issuer rating or the stable outlook, because most of the proceeds will be used to refinance existing debt, while the issuance will also improve the company's debt maturity profile," says Roy Zhang, a Moody's Vice President and Senior Analyst, and also Moody's Lead Analyst for Zhongsheng. Zhongsheng's Baa3 rating reflects its strong position in China's (A1 stable) auto dealership market, its large dealership network, favorable brand and market exposure and efficient operational management, which have contributed to its steady business performance. The rating also reflects Zhongsheng's sound financial profile, prudent financial policy and linkage with its strategic shareholder, Jardine Strategic Holdings Limited (Jardine Group, A1 stable).

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