Wuxi Lead Intelligent Equipment Co.,Ltd. cancelled the acquisition of JOT Automation Ltd. from Head Automation Oy, Head Invest Oy, Invertum Oy, Veikko Lesonen, and Eija Lesonen and 30 other minor stockholders.
January 24, 2017
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Wuxi Lead Intelligent Equipment Co.,Ltd. (SZSE:300450) entered into a sale and purchase agreement to acquire JOT Automation Ltd. from Head Automation Oy, Head Invest Oy, Invertum Oy, Veikko Lesonen, and Eija Lesonen and 30 other minor stockholders for €52.04 million on April 19, 2016. Under the terms of the transaction, Wuxi Lead Intelligent Equipment Co. will pay the initial deposit of €3.75 million within 7 working days after the signing of the agreement and on closing date, Wuxi Lead Intelligent Equipment Co.,Ltd will pay the remaining purchase price plus additional deposits via electronic remittance. The transaction is subject to approval from shareholders Wuxi Lead Intelligent Equipment Co. but does not require approval from China Securities Regulatory Commission. On April 19, 2016, Wuxi Lead Intelligent Equipment Co.,Ltd.'s 2nd directorate in its 12th meeting approved the transaction. The transaction is expected to finalize during third quarter of 2016. Peter Globokar, Rick Dalton and AJ Fang of Mooreland Partners acted as financial advisor to JOT. Johannes Piha, Sha Wang, Susanna Karlsson, Kaisa Mattila and Emma Halminen of Borenius Group acted as legal advisors for Wuxi.
Wuxi Lead Intelligent Equipment Co.,Ltd. (SZSE:300450) cancelled the acquisition of JOT Automation Ltd. from Head Automation Oy, Head Invest Oy, Invertum Oy, Veikko Lesonen, and Eija Lesonen and 30 other minor stockholders on January 25, 2017.
Wuxi Lead Intelligent Equipment Co Ltd is a China-based company mainly engaged in the research and development, design, production and sales of complete sets of automation equipment. The Company operates in two segments. Lead Intelligence segment provides fully automatic intelligent equipment and solutions for manufacturers of energy-saving, environmentally friendly and new energy products such as lithium batteries, photovoltaic cells/modules, 3C and film capacitors. Titan New Power segment is mainly engaged in the research and development and manufacture of energy recovery type formation, volume separation, sorting, automated warehousing and logistics, lithium battery cells and module testing equipment. The Company's main products include lithium battery equipment, photovoltaic equipment, capacitor equipment, 3C smart equipment and others. The Company mainly operates in the domestic market.
Wuxi Lead Intelligent Equipment Co.,Ltd. cancelled the acquisition of JOT Automation Ltd. from Head Automation Oy, Head Invest Oy, Invertum Oy, Veikko Lesonen, and Eija Lesonen and 30 other minor stockholders.
WUXI LEAD INTELLIGENT EQUIPMENT CO.,LTD. 
