Japan's Mitsubish and Taiwan's China Motor Bus Co are likely to join the bid to buy Southeast Motor, sources reported yesterday.
Reportedly, Southeast Motor recorded doubled sales and output in 2009, which is said to be the major reason for Mitsubish and China Motor Bus to bid for the Fujian-based automaker.
It is also reported that Mitsubish and China Motor Bus, which hold 29.5% and 25% stake in Southeast Motor respectively, enjoys preemption right to purchase shares in the Chinese company.
Currently, Beijing Automobile Industry Co and the Guangzhou Automobile Group are still in talks with Fujian Motor Industry Group about restructuring Southeast Motor.
FMIG owns a 50% stake in Southeast Motor.
