King Long Motor to acquire remaining stake in travel vehicle unit

Xiamen King Long Motor Group (SSE: 600686) plans to acquire the remaining 40% stake in Xiamen King Long Travel Vehicle Company from Excelwin (Holdings) Company Limited. King Long Motor currently holds 60% of the travel vehicle unit. The acquisition will be conducted through a paid transfer, with the valuation based on an asset assessment report that will be filed with the Fujian Provincial State-owned Assets Supervision and Administration Commission. The transaction requires internal approvals from both King Long Motor and King Long Travel Vehicle Company, as well as Excelwin. The deal is subject to regulatory filings and approvals. No financial details were disclosed in the legal opinion.