--Volkswagen plans to acquire a 20% stake in Chinese battery maker Guoxuan High-Tech Co. Ltd. via a discounted private share placement in the coming weeks, Reuters reports, citing two unnamed sources with knowledge of the matter.

--The purchase of the stake, worth about $560 million based on Guoxuan's current market capitalization, would make Volkswagen the company's second-largest shareholder.

--The deal has largely been finalized but the two companies are awaiting new rules in China on private share placements, Reuters reports.

Full story: https://reut.rs/30t1rMh

Write to Singapore editors at singaporeeditors@dowjones.com

(END) Dow Jones Newswires

January 17, 2020 00:55 ET (05:55 GMT)

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