Who owns Nanjing Automobile (Group) Corporation? The ownership chain, SAIC Motor's stake and the 2007 deal
Facts checked
Nanjing Automobile (Group) Corporation appears here because the ownership graph records a holding in it by a Chinese entity. The chain below is the whole of what this site claims.
The two state carmakers were formally merged on 26 December 2007; in practice SAIC took Nanjing Automobile over, and Nanjing's shareholders received SAIC shares. This is how MG and Yuejin came under Shanghai control.
The short answer
| Controlled by | SAIC Motor |
|---|---|
| Stake | not published |
| Since | 26 December 2007 |
| Kind | company |
| Origin | CN |
| Name in Chinese | 南京汽车集团有限公司 “nahn-JING CHEE-chuh jee-TWAN” |
| Top of the chain | Shanghai Municipal State-owned Assets Supervision and Administration Commission |
The chain, step by step
Shanghai Municipal State-owned Assets Supervision and Administration Commission controls SAIC Motor since 1995.
The Shanghai municipal state-assets commission is SAIC Motor's ultimate controller, holding its shares through the wholly state-owned parent Shanghai Automotive Industry Corporation (Group). Published figures for the parent's holding in the listed company cluster between about 63% and 68%; no figure carrying its own date could be confirmed from an SAIC filing, so the stake is left null.
SAIC Motor controls Nanjing Automobile (Group) Corporation since 26 December 2007.
The two state carmakers were formally merged on 26 December 2007; in practice SAIC took Nanjing Automobile over, and Nanjing's shareholders received SAIC shares. This is how MG and Yuejin came under Shanghai control.
| Holder | Holds | Kind | Stake | Since |
|---|---|---|---|---|
| Shanghai Municipal State-owned Assets Supervision and Administration Commission | SAIC Motor | controls | controls | 1995 |
| SAIC Motor | Nanjing Automobile (Group) Corporation | controls | controls | 26 December 2007 |
Former holdings
Holdings that ended, kept out of the tables above so nothing current reads as past or the reverse.
| Holding | What it is | Share | Since | What the source says |
|---|---|---|---|---|
| MG | formerly held | 100% | July 2005 | Nanjing Automobile bought the MG marque and MG Rover's plant assets from the administrators in July 2005 for about £53 million, outbidding SAIC. It held the brand for two and a half years until SAIC absorbed the company. |
Related
Sources for Nanjing Automobile (Group) Corporation
- NBC News, MG Rover sold to Chinese automaker. Read . July 2005 report of Nanjing Automobile's purchase of MG Rover's assets.
- Wikipedia, MG Motor. Read . Gives the 26 December 2007 SAIC-NAC merger date.
- SAIC Motor, Company Profile. Read .
- Wikipedia, SAIC Motor. Read . Gives 62.69% for the Shanghai state-assets commission, without a date.
- CarNewsChina, The Big Read – SAIC (3/6) – Becoming British, independent brands built on MG Rover and Maxus. Read .