BYD's Largest Merger and Acquisition in History: Acquisition of "Foreign Capital" Manufacturing Business with 15.8 Billion Cash
Hawk_Finance
2023-08-29 17:46:06
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To expand its smartphone parts business, BYD Electronics plans to use $15.8 billion to pocket Jabil Singapore's business and equity in two Chinese cities.。On August 28, BYD announced that its holding subsidiary BYD Electronics (International) Co., Ltd. (BYD Electronics) and Jabil Inc..Jabil Circuit (Singapore) Pte.Ltd.("Jabil Singapore") has signed an acquisition framework agreement to acquire Jabil Singapore's product manufacturing operations in Chengdu and Wuxi, including parts manufacturing operations of existing customers, for approximately $15.8 billion ($2.2 billion equivalent) in cash.。According to the information disclosed in the announcement, Jabil Singapore has established a new legal entity in Singapore, Juno Newco Target Holdco Singapore Pte..Ltd.BYD Electronics and its subsidiaries will acquire 100% of the target company.。
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