Kunming Yunnei Power Co.,Ltd. cancelled the acquisition of 18.15% stake in Shenzhen V&T Technologies Co., Ltd. from a group of sellers.
June 24, 2021
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Kunming Yunnei Power Co.,Ltd. (SZSE:000903) agreed to acquire 18.15% stake in Shenzhen V&T Technologies Co., Ltd. (SZSE:300484) from a group of sellers for approximately CNY 550 million on October 19, 2019. Kunming Yunnei Power Co.,Ltd. signed an agreement to acquire 18.15% stake in Shenzhen V&T Technologies Co., Ltd. from a group of sellers on October 20, 2019. Under the terms, 37.8 million shares will be acquired as a part of the transaction. Qiu Wenyuan will transfer 8 million shares, Xu Xuehai will transfer 5.1 million shares, Jiang Zhongwen will transfer 1.7 million shares, Fu Ying will transfer 2.2 million shares, Shi Renshuai will transfer 2.2 million shares, Huang Zongming will transfer 0.91 million shares, Shenzhen Lanhai Huateng will transfer 4.6 million shares and Shenzhen Lanhai Zhongteng will transfer 13.1 million shares as a part of the acquisition. Kunming Yunnei Power Co.,Ltd. will become controlling shareholder of Shenzhen V&T Technologies Co., Ltd. post completion. The transaction is subject to approval by the state-owned assets regulatory authority and shareholders of Kunming Yunnei Power. On October 19, 2019, 15th meeting of the 6th Board of Directors of Kunming Yunnei Power approved the transaction.
Kunming Yunnei Power Co.,Ltd. (SZSE:000903) cancelled the acquisition of 18.15% stake in Shenzhen V&T Technologies Co., Ltd. (SZSE:300484) from a group of sellers on June 25, 2021.
Shenzhen V&T Technologies Co., Ltd. is a China-based company principally engaged in the research and development, manufacture and sale of industrial automation control products. The Companyâs main products consist of electric vehicle motor controllers, middle- and low-voltage inverters and servo drivers. The Companyâs products are mainly applied in various industries, such as new energy vehicle, crane, air compressor, machine tool, printing and packaging, metallurgy, oil, injection molding machine and press-casting machine. The Company distributes its products mainly in domestic market.