Sept 15 (Reuters) - China Grand Automotive Services Co Ltd * Says considers offer to buy Baoxin Auto Group via cash Source text in Chinese: bit.ly/1J9soma Further company coverage: (Reporting by Hong Kong and Singapore newsrooms)
China ##feng Automotive is in preliminary talks to acquire a stake in Baoxin Auto Group , China 's largest dealer group of BMW AG , amid a slowdown in new vehicle offerings in the China 's automotive market . China Grand Automotive will pay a refundable HK$50 m ( $ 6.45 m ) in cash to Baoxin . Both companies have experienced a drop in net income for 1H2015 .