Zhejiang XCC Group Co.,Ltd and Henan Aoluo Fuyu Precision Manufacturing Private Equity Investment Fund Partnership agreed to acquire 13% stake in Luoyang LYC Bearing Co., Ltd. from Luoyang GuoHong Investment Holding Group Co.,Ltd for CNY 350 million.
January 19, 2024
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Zhejiang XCC Group Co.,Ltd (SHSE:603667) and Henan Aoluo Fuyu Precision Manufacturing Private Equity Investment Fund Partnership agreed to acquire 13% stake in Luoyang LYC Bearing Co., Ltd. from Luoyang GuoHong Investment Holding Group Co.,Ltd for CNY 350 million on January 18, 2024. The consideration consists of CNY 353.7 million in cash. As part of the consideration, CNY 353.7 million was paid towards common equity.
Zhejiang XCC Group Co., Ltd. is a China-based company principally engaged in the research, design, manufacture and distribution of bearing rings and finished bearings. Its bearing ring products include automobile bearing rings and non-automobile bearing rings. Its finished bearing products include precision automobile bearings, precision motor bearings and other bearings. The Company is also involved in the production of precision steel pipes. Its products are mainly applied in automobiles, motors, mechanized equipment and others. The Company distributes its products within domestic market and to overseas markets, including The Republic of Korea, Brazil, Europe and America, among others.
Zhejiang XCC Group Co.,Ltd and Henan Aoluo Fuyu Precision Manufacturing Private Equity Investment Fund Partnership agreed to acquire 13% stake in Luoyang LYC Bearing Co., Ltd. from Luoyang GuoHong Investment Holding Group Co.,Ltd for CNY 350 million.
ZHEJIANG XCC GROUP CO.,LTD 
