BRIEF-Lifan Industry Group unit to acquire stake in Puyang-based bank
Aug 14(Reuters) - Lifan Industry Group Co Ltd
* Says co's Chongqing-based wholly owned motorcycle unit plans to acquire 180 million shares of Puyang-based bank for 180 million yuan in total (1 yuan per share)
* Says unit plans to invest 216 million yuan to buy the bank's bad assets
* Says unit will hold 30 percent stake in the bank after acquisition and investment
Source text in Chinese: goo.gl/57A6rS
Further company coverage: (Beijing Headline News)