NBTM New Materials Group Co., Ltd. completed the acquisition of remaining 40% stake in ZheJiang NBTM KeDa Magnetoelectricity Co., Ltd. from Ningbo Xinjinguang Investment Management Co., Ltd. and Ke Xin.
March 15, 2022
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NBTM New Materials Group Co., Ltd. (SHSE:600114) agreed to acquire remaining 40% stake in ZheJiang NBTM KeDa Magnetoelectricity Co., Ltd. from Ningbo Xinjinguang Investment Management Co., Ltd. and Ke Xin for approximately CNY 230 million on January 17, 2022. Under the terms, As of February 15, 2022, NBTM New Materials Group Co., Ltd. paid 50% of the consideration amount which is CNY 116 million. The deal is subject to approval from NBTM New Materials Group Co., Ltd. board and shareholders. As of January 17, 2022, NBTM New Materials Group Co., Ltd. board approved the deal. As of February 9, 2022, NBTM New Materials Group Co., Ltd. shareholders approved the deal. As at September 30, 2021 ZheJiang KeDa Magnetoelectricity Co., Ltd recorded the assets of CNY 610 million and net assets of CNY 120 million.
NBTM New Materials Group Co., Ltd. (SHSE:600114) completed the acquisition of remaining 40% stake in ZheJiang NBTM KeDa Magnetoelectricity Co., Ltd. from Ningbo Xinjinguang Investment Management Co., Ltd. and Ke Xin on March 16, 2022. On March 29, 2022, NBTM New Materials Group Co., Ltd. paid the remaining 50.00% of the transfer price.
NBTM New Materials Group Co., Ltd. is a China-based company principally engaged in the production and sales of powder metallurgy machinery parts and soft magnetic materials. The Company's powder metallurgy machinery products include automotive parts, motorcycle parts and home appliance parts. The Company's powder metallurgy machinery parts are mainly applied in engines, gearboxes, chassis, compressors of air conditioners and refrigerators and motorcycle clutches. The Companyâs soft magnetic materials include gold powder, iron cores and alloy magnetic powder cores, among others, which are used for electrical equipment and electronic equipment. The Company distributes its products in domestic market and to overseas markets, including the North America, Europe, Japan, Korea and other areas.
NBTM New Materials Group Co., Ltd. completed the acquisition of remaining 40% stake in ZheJiang NBTM KeDa Magnetoelectricity Co., Ltd. from Ningbo Xinjinguang Investment Management Co., Ltd. and Ke Xin.
NBTM NEW MATERIALS GROUP CO., LTD. 
