Bohong Group Buys Wescast Industries for US$ 245 Mln

(Beijing) – Sichuan Bohong Group announced a takeover of Canadian auto parts manufacturer Wescast Industries Inc. for US$ 245 million on July 13.

The deal is the biggest acquisition by value between industrial organizations in Sino-Canadian history.

Bohong, a privately owned company in Mianyang, in the southwestern province of Sichuan, bought all of Wescast and its liabilities. Thirty percent of the funds will come from Bohong and the rest from bank loans.