SHA:688257

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Shareate Tools Plans to Buy Controlling Stake in PCB Tool Cutting Maker

Shareate Tools (SHA:688257) received approval from the board of directors to acquire an 80% stake in Xinxiang Huilian Electronic Technology for 800 million yuan, according to a Shanghai bourse filing on Friday.Huilian Electronic is a manufacturer of cutting tools for printed circuit boards.The company also plans to acquire 70% of Winwinhitech (Thailand) for 28 million yuan as part of the transaction.The transaction is expected to generate about 400 million in goodwill, bringing the company's total goodwill to approximately 729 million yuan.The PCB cutting tool manufacturer's shares dropped 3% at the close.

SHA:688257

Asia3h ago

Shareate Tools Directors Approve Stake 800-Million-Yuan Purchase in PCB Cutting Tools Maker

Shareate Tools (SHA:688257) directors approved the purchase of an 80% stake in Xinxiang Huilian Electronic Technology for 800 million yuan, according to a Friday filing with the Shanghai bourse.The listed company also bought a 70% stake in Winwin Hitech (Thailand) for 28 million yuan as part of the package for the above transaction to resolve competition with Xinxiang Huilian Electronic Technology and expand its overseas footprint.Xinxiang Huilian Electronic Technology manufactures cutting tools for printed circuit boards.

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