Nanjing Automobile Buys MG Rover

Administrators for MG Rover Group Ltd, England's last major automaker, said the bankrupt automaker and its engine-producing subsidiary, Powertrain, have been bought by Nanjing Automobile (Group) Corp, raising questions about how much production Nanjing Automobile would retain in Britain. Although the terms of the deal were not disclosed, a person close to the deal said Nanjing Automobile paid about US$87m, according to The AP. Shanghai Auto Industry Corp said it would strive to retain ownership of the two prestigious Rover brands it already owns.