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TCL Electronics to Acquire Air Conditioner Business for HK$5.6 Billion; Shares Fall 11%

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TCL Electronics (HKG:1070) agreed to acquire TCL AeroWell (Cayman), the holding company for TCL's air conditioner business, for HK$5.61 billion, according to a Hong Kong bourse filing on Wednesday.

The consideration will be satisfied by HK$167 million in cash and the issuance of 362.9 million new shares at HK$15 per share.

The new shares will represent about 12.6% of the company's enlarged share capital upon completion.

TCL Electronics said the acquisition will expand its smart home appliance portfolio, strengthen its air conditioning business and generate operational synergies across its global operations.

The transaction is expected to close in the fourth quarter of 2026, subject to shareholder and regulatory approvals.

Shares of the firm were down nearly 11% in recent trade.

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