Summary by Moomoo AI
BYD Electronics (International) Limited announces the acquisition of Juno Newco Target Holdco Singapore Pte through its wholly-owned subsidiary. Ltd. (target company) 100% shareholding. The acquisition involves a total cost of US$22 million and is expected to be financed through internal resources and shareholder loans from BYD Corporation. The target company is mainly engaged in the production of mobile electronics manufacturing of precision structural components of mobile smart terminals, mainly located in Chengdu and Wuxi. Upon completion of the acquisition, the target company will become a subsidiary of BYD Electronics and is expected to strengthen BYD's competitiveness in consumer electronics component manufacturing. As of 31 August 2013, the audited consolidated financial statement of the target company showed that its total assets were RMB34.00 billion, total liabilities were RMB25.32 billion, and net assets were RMB7.63 billion. The acquisition is expected to be completed on 28 February 2014.
