Goldman to buy 10 pct stake in China glass maker

SHANGHAI, Nov 20 (Reuters) China's Fuyao Group Glass Industries Co. Ltd. said on Monday that Wall Street bank Goldman Sachs plans to buy a 9.98 percent stake in the country's biggest auto glass maker for 890 million yuan (3 million).

Fuyao will issue new shares in a private placement for 8 yuan a piece to an investment arm of Goldman Sachs, it said in a statement.

The stock placement comes after talks between Ford Motor Co. and Fuyao on the sale of some of Ford's North American glass-making assets were halted indefinitely, industry sources told Reuters in September.

Reuters DKS PM0527