China ZhengTong Auto buys rival dealer for $860 million

China’s second-biggest BMW dealer has agreed to buy rival Exactwin, which sells Jaguar, Land Rover and Volvo brands.
<div style="text-align: left;"> ZhengTong is China's second-biggest BMW dealer </div>
<div style="text-align: left;"> ZhengTong is China's second-biggest BMW dealer </div>
August 31, 2011

Hubei-based China ZhengTong Auto Services, the second-biggest BMW dealership on the mainland, is set to pay Rmb5.5 billion ($860 million) for Exactwin, a rival dealer that specialises in selling cars made by Jaguar, Land Rover and Volvo.

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