Zhejiang Communications Investment Group Co., Ltd entered into the share purchase agreement to acquire 20.02% stake in Nantong Jianghai Capacitor Co. Ltd. (SZSE:002484) from Billion Power Investment Limited for approximately CNY 3.23 billion on March 12, 2024. Under the terms, CNY 19 per share shall be paid as consideration.

In the event of termination, the buyer and seller shall pay termination fee of CNY 1 million or 5% of the consideration. The deal is subject to approval by shareholders of Yeebo (International Holdings) Limited and Shenzhen Stock Exchange. The proceeds from disposal shall be used to generate further value for shareholders and for general working capital.

UBS acted as financial advisor for Yeebo (International Holdings) Limited. Kay Ian Ng of Sullivan & Cromwell (Hong Kong) LLP acted as legal advisor to Power Investment Limited.