JAC Motors: No Formal Partnership Talks with VW

April 11, 2019 at 11:37 AM

China’s Anhui Jianghuai Automobile Co. Ltd. has deflected reports that the company and Volkswagen AG are discussing a possible equity investment by the German carmaker.

Yesterday Reuters and Bloomberg News said VW is interested in taking a “significant” stake in JAC. The reports indicated the talks between the two companies are at a preliminary stage, adding that VW had asked Goldman Sachs Group to provide counsel about a potential deal.

In a stock exchange statement, JAC says it has “not conducted formal business discussions on the matters mentioned in the news reports, nor does it have any plans for an equity acquisition.”