Kaixin Auto says it intends to acquire EV maker Morning Star; shares down

Kaixin Holdings

26/09/2022 15:02

** U.S.-listed shares of Chinese car dealership Kaixin Auto
Holdings  KXIN.O  down 8.7% at $0.85 
    ** If losses hold, stock set to snap three-day winning
streak
    ** Co says it intends to acquire EV maker Wuxi Morning Star
Technology Co through new share issuance and make it a wholly
owned subsidiary  urn:newsml:reuters.com:*:nGNX8KCNGC
    ** Adds it expects to sign the definitive acquisition
agreement by end of October and close the deal by end of the
year
 (Reporting by Eva Mathews in Bengaluru)
 ((Eva.mathews@thomsonreuters.com))