Asia
Yifan Motor to Buy Majority Stake in Beijing's HollySys for 84 Million Yuan
Jiangnan Yifan Motor (SHE:301023) plans to acquire 40% of Beijing HollySys Electric Drive Technology for 84 million yuan, according to a Shenzhen bourse filing on Wednesday.HollySys manufactures mechatronic and automation system equipment.As part of the deal, the HollySys brand will be removed after the completion of the transaction.The Chinese professional motor producer's shares slipped by less than 2% during the afternoon trade.
SHE:301023
