Asia
CSG Smart Science & Technology Acquires 70% Stake in Yuanguang Electric for 151 Million Yuan; Shares Down 3%
CSG Smart Science & Technology (SHE:300222) agreed to acquire a 70% stake in Zhejiang Jiangshan Yuanguang Electric for 151.2 million yuan.The amount is based on a valuation of 216 million yuan for 100% equity, with the deal valuing the transformer manufacturer at a 24.49% premium over its 172.7-million-yuan book value.The company is engaged in industrial automation business and electric power automation business. Its shares were down 3% in recent trade.
SHE:300222
