Lingyi Itech (Guangdong) Company (SZSE:002600) signed letter of intent to acquire Salcomp Plc on January 14, 2019. Lingyi iTech (Guangdong) Company (SZSE:002600) has entered into an agreement to acquire Salcomp Plc from Nordstjernan AB and Sjätte AP-fonden for €88 million on June 3, 2019. Nordstjernan AB will be selling 55% stake and Sjätte AP-fonden will be selling 45% stake. The purchase consideration will be settled in cash, part of which will be used to pay the bank debts. Salcomp Plc reported sales of approximately €531 million, total assets of approximately €390 million, net loss of €8 million, EBITDA of €23 million and total common equity of €39 million as of December 31, 2018. The transaction is subject to regulatory approval in China and Taiwan. The transaction is expected to close before end of the year. Bank of America Merrill Lynch acted as financial advisor to Salcomp. Jan Jensen, Vivian Tsoi, Farhad Jalinous, Marc Israel, Keith Schomig, Viktor Leisnert, Jonas Lagerroos, Jonas Brandt, Anders Westling, Essi Lavikkala and Xiaofeng (Allison) Gong of White & Case LLP acted as legal advisor to Salcomp Plc.