Shenzhen Capital Operation Group Co.,Ltd. and Shenzhen Yixin Investment Co., Ltd. signed framework agreement to acquire 19.73% stake in Shenzhen MTC Co., Ltd. from Nanchang MTC Investment Partnership Enterprise (Limited Partnership) for CNY 4.4 billion.
May 27, 2022
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Shenzhen Capital Operation Group Co.,Ltd. and Shenzhen Yixin Investment Co., Ltd. signed framework agreement to acquire 19.73% stake in Shenzhen MTC Co., Ltd. (SZSE:002429) from Nanchang MTC Investment Partnership Enterprise (Limited Partnership) for CNY 4.4 billion on February 28, 2022. On May 26, 2022, Shenzhen Capital Operation Group Co.,Ltd. and Shenzhen Yixin Investment Co., Ltd. signed agreement to acquire 19.73% stake in Shenzhen MTC Co., Ltd. (SZSE:002429) from Nanchang MTC Investment Partnership Enterprise (Limited Partnership). As per the transaction, Shenzhen Capital Operation Group Co.,Ltd. and Shenzhen Yixin Investment Co., Ltd. will acquire 668.81 million shares (14.73%) and 226.34 million shares (5%) respectively at CNY 4.89 per share. Shenzhen Capital Operation Group Co.,Ltd. and Shenzhen Yixin Investment Co., Ltd. shall pay CNY 3 billion within three working days of delivery date while remaining CNY 1.36 billion payable within three working days after the completion of the share pledge registration procedures stipulated in this agreement. Post completion, Nanchang MTC Investment Partnership Enterprise (Limited Partnership) will hold 19.64% stake of Shenzhen MTC Co., Ltd. On July 8, 2022, Anti-Monopoly Authority of China has approved the transaction recently.
Shenzhen MTC Co., Ltd. is a China-based company, principally engaged in the research and development, design, manufacture and distribution of household video and audio consumer electronics. The Company primarily provides household video and audio consumer electronics, including liquid crystal display (LCD) televisions, digital set top boxes, blue laser video disk players, multimedia sound boxes and light emitting diode (LED) products and accessories. The Company also offers Internet terminals and services, and original design manufacturer (ODM) services. The Company distributes its products in domestic and overseas markets.
Shenzhen Capital Operation Group Co.,Ltd. and Shenzhen Yixin Investment Co., Ltd. signed framework agreement to acquire 19.73% stake in Shenzhen MTC Co., Ltd. from Nanchang MTC Investment Partnership Enterprise (Limited Partnership) for CNY 4.4 billion.