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Estun Automation to Buy Entire Stake in Collaborative Robot Maker; Shares Rise 6%

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Estun Automation (SHE:002747) subsidiaries Nanjing Estun Robotics Engineering and Nanjing Dingtong Electromechanical Automation plan to purchase the entire stake in Nanjing Estun Cooltech Technology for 487.1 million yuan, according to a Wednesday filing with the Shenzhen bourse.

Estun Robotics will take 83.26% of Estun Cooltech for 405.6 million yuan, the filing said.

Dingtong Electromechanical will then purchase the 16.74% remaining stake by acquiring shares in the three employee stock ownership platforms of Estun Cooltech for 81.5 million yuan.

Estun Cooltech produces collaborative and intelligent robots, as well as core components.

Shares rose 6% during afternoon trading on Wednesday.

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