May 29 (NBD) -- Chinese auto glass maker Fuyao Glass Industry Group Co., Ltd. (Fuyao Glass, 600660.SH) announced Friday that it has entered into an equity transfer agreement to sell a 75 percent stake in the safety glass company Beijing Futong to Taiyuan Jinnuo for 1.004 billion yuan (152 million U.S. dollars).

Under the agreement, Taiyuan Jinnuo shall make the first tranche of 663 million yuan (100 million U.S. dollars) to Fuyao Glass on or before June 30, 2018.

Email: tanyuhan@nbd.com.cn